Wall Street analysts expect Global Partners LP (NYSE:GLP) to announce earnings per share (EPS) of $0.27 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Global Partners’ earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.60. Global Partners posted earnings of $0.44 per share during the same quarter last year, which would suggest a negative year over year growth rate of 38.6%. The firm is expected to report its next earnings results on Wednesday, November 14th.
According to Zacks, analysts expect that Global Partners will report full year earnings of $2.12 per share for the current fiscal year, with EPS estimates ranging from $2.01 to $2.22. For the next fiscal year, analysts expect that the business will report earnings of $0.69 per share, with EPS estimates ranging from $0.52 to $1.06. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Global Partners.
Global Partners (NYSE:GLP) last released its quarterly earnings data on Thursday, August 9th. The energy company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.07. Global Partners had a return on equity of 8.83% and a net margin of 0.94%. The business had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $2.66 billion.
A number of brokerages have recently commented on GLP. ValuEngine upgraded Global Partners from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. Zacks Investment Research cut Global Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Stifel Nicolaus reiterated a “hold” rating and issued a $20.00 target price (up previously from $17.00) on shares of Global Partners in a report on Friday, August 10th. Finally, Mitsubishi UFJ Financial Group lifted their target price on Global Partners and gave the stock an “underweight” rating in a report on Friday, August 10th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $19.67.
Institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new position in Global Partners during the 2nd quarter valued at $181,000. Wells Fargo & Company MN boosted its holdings in Global Partners by 18.8% during the 1st quarter. Wells Fargo & Company MN now owns 27,931 shares of the energy company’s stock valued at $429,000 after acquiring an additional 4,414 shares during the period. California Public Employees Retirement System boosted its holdings in Global Partners by 3.3% during the 1st quarter. California Public Employees Retirement System now owns 149,199 shares of the energy company’s stock valued at $2,290,000 after acquiring an additional 4,699 shares during the period. UBS Group AG boosted its holdings in Global Partners by 44.5% during the 1st quarter. UBS Group AG now owns 164,118 shares of the energy company’s stock valued at $2,519,000 after acquiring an additional 50,527 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in Global Partners by 51.9% during the 1st quarter. Van ECK Associates Corp now owns 170,240 shares of the energy company’s stock valued at $2,613,000 after acquiring an additional 58,155 shares during the period. Hedge funds and other institutional investors own 41.29% of the company’s stock.
Shares of Global Partners stock traded up $0.10 on Tuesday, reaching $18.35. The company had a trading volume of 33,500 shares, compared to its average volume of 68,903. The stock has a market cap of $620.42 million, a price-to-earnings ratio of 13.20 and a beta of 1.06. The company has a debt-to-equity ratio of 2.67, a quick ratio of 0.89 and a current ratio of 1.44. Global Partners has a 1 year low of $15.16 and a 1 year high of $21.05.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Stockholders of record on Thursday, August 9th were issued a $0.475 dividend. This is a boost from Global Partners’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Wednesday, August 8th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 10.35%. Global Partners’s payout ratio is 136.69%.
Global Partners Company Profile
Global Partners LP, a midstream logistics and marketing company, distributes gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial customers in the New England states and New York. It operates in three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.
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