$0.08 EPS Expected for Global Partners LP (GLP) This Quarter

Brokerages expect Global Partners LP (NYSE:GLP) to post earnings per share of $0.08 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Global Partners’ earnings, with the highest EPS estimate coming in at $0.17 and the lowest estimate coming in at ($0.04). Global Partners posted earnings per share of $0.33 during the same quarter last year, which would suggest a negative year-over-year growth rate of 75.8%. The business is scheduled to report its next earnings results on Tuesday, May 8th.

According to Zacks, analysts expect that Global Partners will report full-year earnings of $0.49 per share for the current financial year, with EPS estimates ranging from $0.37 to $0.63. For the next year, analysts anticipate that the company will report earnings of $0.43 per share, with EPS estimates ranging from $0.15 to $0.63. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Global Partners.

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Global Partners (NYSE:GLP) last released its quarterly earnings results on Thursday, March 8th. The energy company reported $0.20 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.20. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Global Partners had a return on equity of 8.89% and a net margin of 0.66%.

A number of equities analysts have commented on the company. ValuEngine lowered Global Partners from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Zacks Investment Research upgraded Global Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. Stifel Nicolaus lowered Global Partners from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a research note on Tuesday, March 13th. Finally, Barclays restated an “equal weight” rating and set a $18.00 price objective (down previously from $19.00) on shares of Global Partners in a research note on Monday, March 12th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Global Partners currently has a consensus rating of “Hold” and an average target price of $18.50.

A number of institutional investors have recently bought and sold shares of GLP. Kayne Anderson Capital Advisors LP increased its stake in Global Partners by 12.2% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 2,166,610 shares of the energy company’s stock worth $36,172,000 after acquiring an additional 235,595 shares during the period. Deutsche Bank AG increased its stake in shares of Global Partners by 1,107.7% in the 4th quarter. Deutsche Bank AG now owns 159,410 shares of the energy company’s stock valued at $2,662,000 after purchasing an additional 146,210 shares during the last quarter. Geode Capital Management LLC bought a new position in shares of Global Partners in the 4th quarter valued at $973,000. Renaissance Technologies LLC increased its stake in shares of Global Partners by 415.3% in the 4th quarter. Renaissance Technologies LLC now owns 68,025 shares of the energy company’s stock valued at $1,136,000 after purchasing an additional 54,825 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Global Partners by 263.2% in the 4th quarter. Acadian Asset Management LLC now owns 41,437 shares of the energy company’s stock valued at $693,000 after purchasing an additional 30,029 shares during the last quarter. Hedge funds and other institutional investors own 41.53% of the company’s stock.

Global Partners stock remained flat at $$15.55 during mid-day trading on Monday. The company’s stock had a trading volume of 9,069 shares, compared to its average volume of 80,550. Global Partners has a 12-month low of $15.16 and a 12-month high of $20.86. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.79 and a current ratio of 1.31. The company has a market cap of $528.63, a price-to-earnings ratio of 11.19 and a beta of 0.86.

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Global Partners Company Profile

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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