Equities analysts predict that Sprague Resources LP (NYSE:SRLP) will announce sales of $494.27 million for the current quarter, Zacks reports. Two analysts have issued estimates for Sprague Resources’ earnings, with estimates ranging from $474.67 million to $513.86 million. Sprague Resources reported sales of $422.78 million during the same quarter last year, which indicates a positive year over year growth rate of 16.9%. The company is scheduled to report its next earnings results on Monday, November 6th.
On average, analysts expect that Sprague Resources will report full year sales of $494.27 million for the current financial year, with estimates ranging from $2.68 billion to $2.75 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $3.08 billion per share, with estimates ranging from $3.07 billion to $3.09 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Sprague Resources.
Sprague Resources (NYSE:SRLP) last issued its quarterly earnings results on Wednesday, August 9th. The oil and gas company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.40). The business had revenue of $513.63 million for the quarter, compared to analyst estimates of $529.66 million. Sprague Resources had a return on equity of 29.64% and a net margin of 1.77%.
SRLP has been the topic of several recent research reports. Zacks Investment Research raised shares of Sprague Resources from a “sell” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub lowered shares of Sprague Resources from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $33.00.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP purchased a new stake in Sprague Resources during the 2nd quarter valued at $9,192,000. Friedberg Investment Management boosted its position in Sprague Resources by 597.3% during the 2nd quarter. Friedberg Investment Management now owns 57,879 shares of the oil and gas company’s stock valued at $1,632,000 after buying an additional 49,579 shares during the period. Renaissance Technologies LLC boosted its position in Sprague Resources by 11.3% during the 1st quarter. Renaissance Technologies LLC now owns 48,927 shares of the oil and gas company’s stock valued at $1,326,000 after buying an additional 4,963 shares during the period. California Public Employees Retirement System boosted its position in Sprague Resources by 3.0% during the 2nd quarter. California Public Employees Retirement System now owns 44,300 shares of the oil and gas company’s stock valued at $1,249,000 after buying an additional 1,300 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Sprague Resources by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,636 shares of the oil and gas company’s stock valued at $1,061,000 after buying an additional 217 shares during the period. 24.63% of the stock is owned by institutional investors and hedge funds.
Shares of Sprague Resources (SRLP) traded up 1.18% during trading on Tuesday, hitting $25.75. 4,704 shares of the stock were exchanged. The stock’s 50 day moving average price is $25.34 and its 200 day moving average price is $26.63. Sprague Resources has a 52 week low of $22.50 and a 52 week high of $30.75. The firm has a market capitalization of $580.48 million, a price-to-earnings ratio of 12.84 and a beta of 1.38.
About Sprague Resources
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