Wall Street analysts expect that Global Partners LP (NYSE:GLP) will post $0.24 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Global Partners’ earnings. The lowest EPS estimate is $0.16 and the highest is $0.33. Global Partners posted earnings per share of $0.03 in the same quarter last year, which would indicate a positive year over year growth rate of 700%. The business is expected to issue its next earnings report on Monday, November 6th.
On average, analysts expect that Global Partners will report full year earnings of $0.89 per share for the current fiscal year, with EPS estimates ranging from $0.51 to $1.19. For the next fiscal year, analysts forecast that the company will report earnings of $0.45 per share, with EPS estimates ranging from $0.11 to $0.64. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Global Partners.
Global Partners (NYSE:GLP) last released its earnings results on Wednesday, August 9th. The energy company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Global Partners had a positive return on equity of 0.21% and a negative net margin of 1.83%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.22) EPS.
Several research firms recently commented on GLP. BidaskClub raised Global Partners from a “strong sell” rating to a “sell” rating in a research report on Friday, August 4th. Zacks Investment Research raised Global Partners from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Monday, July 17th. Stifel Nicolaus reissued a “buy” rating and issued a $21.00 target price on shares of Global Partners in a report on Friday, June 23rd. Finally, Janney Montgomery Scott assumed coverage on Global Partners in a report on Friday, June 23rd. They issued a “neutral” rating and a $18.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $18.40.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu KCG Holdings LLC bought a new position in shares of Global Partners in the second quarter worth about $187,000. JPMorgan Chase & Co. raised its stake in shares of Global Partners by 448.7% in the second quarter. JPMorgan Chase & Co. now owns 10,436 shares of the energy company’s stock worth $188,000 after buying an additional 8,534 shares during the period. Acadian Asset Management LLC bought a new position in shares of Global Partners in the second quarter worth about $199,000. Global X Management Co. LLC raised its stake in shares of Global Partners by 5.5% in the first quarter. Global X Management Co. LLC now owns 10,351 shares of the energy company’s stock worth $202,000 after buying an additional 535 shares during the period. Finally, Cutler Capital Management LLC bought a new position in shares of Global Partners in the second quarter worth about $254,000. 39.85% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Global Partners (NYSE:GLP) traded up 1.4940% during midday trading on Friday, reaching $16.9495. The company had a trading volume of 12,835 shares. Global Partners has a 12-month low of $14.53 and a 12-month high of $21.95. The firm’s market capitalization is $568.72 million. The company has a 50 day moving average of $17.25 and a 200 day moving average of $18.36.
The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Wednesday, August 9th were issued a $0.463 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 11.09%. The ex-dividend date of this dividend was Monday, August 7th. Global Partners’s dividend payout ratio is -39.11%.
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About Global Partners
Global Partners LP is a midstream logistics and marketing company. It is engaged in the purchasing, selling, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane.
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