Analysts Anticipate Suburban Propane Partners LP (SPH) Will Post Quarterly Sales of $528.12 Million

Equities research analysts expect Suburban Propane Partners LP (NYSE:SPH) to report sales of $528.12 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Suburban Propane Partners’ earnings. The lowest sales estimate is $518.63 million and the highest is $537.60 million. Suburban Propane Partners reported sales of $450.58 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 17.2%. The company is scheduled to announce its next quarterly earnings report on Thursday, May 3rd.

According to Zacks, analysts expect that Suburban Propane Partners will report full-year sales of $528.12 million for the current year, with estimates ranging from $1.32 billion to $1.35 billion. For the next year, analysts expect that the business will report sales of $1.35 billion per share, with estimates ranging from $1.33 billion to $1.39 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Suburban Propane Partners.

How to Become a New Pot Stock Millionaire

Suburban Propane Partners (NYSE:SPH) last released its earnings results on Thursday, February 8th. The energy company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.28). Suburban Propane Partners had a return on equity of 6.57% and a net margin of 3.27%. The firm had revenue of $373.00 million for the quarter, compared to analyst estimates of $422.16 million. During the same period last year, the business earned $0.56 earnings per share. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year.

A number of research firms recently weighed in on SPH. TheStreet raised Suburban Propane Partners from a “c” rating to a “b-” rating in a research report on Friday, February 9th. UBS reissued a “neutral” rating and set a $27.00 target price (down from $29.00) on shares of Suburban Propane Partners in a research report on Friday, March 2nd. Zacks Investment Research raised Suburban Propane Partners from a “sell” rating to a “hold” rating in a research report on Friday, March 2nd. Raymond James Financial raised Suburban Propane Partners from a “market perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a research report on Friday, February 9th. Finally, JPMorgan Chase downgraded Suburban Propane Partners from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $28.00 to $26.00 in a research report on Monday, March 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $27.00.

SPH stock traded up $0.08 during trading on Friday, reaching $22.21. 40,688 shares of the stock were exchanged, compared to its average volume of 258,715. Suburban Propane Partners has a twelve month low of $21.85 and a twelve month high of $27.27. The company has a market cap of $1,358.64, a PE ratio of 31.79, a price-to-earnings-growth ratio of 3.66 and a beta of 0.64. The company has a quick ratio of 0.77, a current ratio of 1.05 and a debt-to-equity ratio of 2.37.

In other Suburban Propane Partners news, Director Harold R. Logan, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $24.33, for a total transaction of $97,320.00. Following the completion of the transaction, the director now owns 21,641 shares in the company, valued at $526,525.53. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.75% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Clearbridge Investments LLC lifted its stake in Suburban Propane Partners by 2.3% during the fourth quarter. Clearbridge Investments LLC now owns 723,827 shares of the energy company’s stock worth $17,531,000 after purchasing an additional 16,000 shares during the period. Virtu Financial LLC bought a new position in Suburban Propane Partners during the fourth quarter worth about $967,000. MHI Funds LLC bought a new position in Suburban Propane Partners during the fourth quarter worth about $259,000. SeaCrest Wealth Management LLC bought a new position in Suburban Propane Partners during the fourth quarter worth about $451,000. Finally, JPMorgan Chase & Co. lifted its stake in Suburban Propane Partners by 42.3% during the third quarter. JPMorgan Chase & Co. now owns 1,060,051 shares of the energy company’s stock worth $27,455,000 after purchasing an additional 314,973 shares during the period. Hedge funds and other institutional investors own 28.14% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Analysts Anticipate Suburban Propane Partners LP (SPH) Will Post Quarterly Sales of $528.12 Million” was reported by Ticker Report and is the property of of Ticker Report. If you are reading this news story on another domain, it was illegally copied and republished in violation of United States and international trademark & copyright law. The correct version of this news story can be read at https://www.tickerreport.com/banking-finance/3343598/analysts-anticipate-suburban-propane-partners-lp-sph-will-post-quarterly-sales-of-528-12-million.html.

About Suburban Propane Partners

Suburban Propane Partners, L.P. is a marketer and distributor of a range of products. The Company specializes in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets. The Company’s segments include Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.

Get a free copy of the Zacks research report on Suburban Propane Partners (SPH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Suburban Propane Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suburban Propane Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

PTC’s  “In-Line” Rating Reaffirmed at Robert W. Baird
PTC’s “In-Line” Rating Reaffirmed at Robert W. Baird
Procter & Gamble  Sets New 52-Week High and Low After Strong Earnings
Procter & Gamble Sets New 52-Week High and Low After Strong Earnings
Brooks Automation  Insider Sells $112,000.00 in Stock
Brooks Automation Insider Sells $112,000.00 in Stock
Scott C. Morrison Sells 2,225 Shares of Ball Co.  Stock
Scott C. Morrison Sells 2,225 Shares of Ball Co. Stock
Zacks Investment Research Upgrades SkyWest  to “Buy”
Zacks Investment Research Upgrades SkyWest to “Buy”
Regeneron  Downgraded to Sell at BidaskClub
Regeneron Downgraded to Sell at BidaskClub


Leave a Reply

© 2006-2018 Ticker Report. Google+.