Equities research analysts predict that Global Partners (NYSE:GLP) will report earnings per share of $0.12 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Global Partners’ earnings, with the highest EPS estimate coming in at $0.16 and the lowest estimate coming in at $0.10. Global Partners posted earnings per share of $0.07 in the same quarter last year, which suggests a positive year over year growth rate of 71.4%. The company is expected to announce its next quarterly earnings report on Wednesday, August 8th.
According to Zacks, analysts expect that Global Partners will report full-year earnings of $1.71 per share for the current fiscal year, with EPS estimates ranging from $0.63 to $2.04. For the next year, analysts expect that the company will report earnings of $0.41 per share, with EPS estimates ranging from $0.18 to $0.59. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Global Partners.
Global Partners (NYSE:GLP) last issued its earnings results on Wednesday, May 9th. The energy company reported $1.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $1.56. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.35 billion. Global Partners had a return on equity of 8.03% and a net margin of 1.00%.
GLP has been the subject of a number of research analyst reports. Barclays restated an “equal weight” rating and issued a $18.00 target price (down previously from $19.00) on shares of Global Partners in a research note on Monday, March 12th. Stifel Nicolaus lowered Global Partners from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research note on Tuesday, March 13th. Zacks Investment Research upgraded Global Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. Finally, ValuEngine lowered Global Partners from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. Global Partners has an average rating of “Hold” and a consensus price target of $18.25.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLP. Fort Point Capital Partners LLC purchased a new position in shares of Global Partners during the 4th quarter valued at about $225,000. Wells Fargo & Company MN raised its stake in shares of Global Partners by 28.7% during the 4th quarter. Wells Fargo & Company MN now owns 23,517 shares of the energy company’s stock valued at $393,000 after buying an additional 5,245 shares during the last quarter. Penbrook Management LLC purchased a new position in shares of Global Partners during the 4th quarter valued at about $451,000. Acadian Asset Management LLC raised its stake in shares of Global Partners by 263.2% during the 4th quarter. Acadian Asset Management LLC now owns 41,437 shares of the energy company’s stock valued at $693,000 after buying an additional 30,029 shares during the last quarter. Finally, Geode Capital Management LLC purchased a new position in shares of Global Partners during the 4th quarter valued at about $973,000. Institutional investors and hedge funds own 41.93% of the company’s stock.
Shares of Global Partners opened at $17.50 on Thursday, Marketbeat.com reports. The firm has a market capitalization of $601.72 million, a P/E ratio of 12.59 and a beta of 0.85. The company has a quick ratio of 0.82, a current ratio of 1.41 and a debt-to-equity ratio of 2.65. Global Partners has a 1 year low of $15.16 and a 1 year high of $19.30.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Thursday, May 10th were paid a dividend of $0.463 per share. The ex-dividend date was Wednesday, May 9th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 10.58%. This is a positive change from Global Partners’s previous quarterly dividend of $0.46. Global Partners’s dividend payout ratio (DPR) is presently 133.09%.
About Global Partners
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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