Green Plains Partners LP (NASDAQ:GPP) posted its earnings results on Wednesday. The transportation company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04), Briefing.com reports. The business had revenue of $26.45 million for the quarter, compared to analyst estimates of $28.36 million. Green Plains Partners had a negative return on equity of 90.84% and a net margin of 54.97%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, November 3rd will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 9.29%. This is an increase from Green Plains Partners’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, November 2nd. Green Plains Partners’s dividend payout ratio is presently 100.00%.
Several analysts recently issued reports on the company. Bank of America Corporation downgraded Green Plains Partners from a “buy” rating to an “underperform” rating and reduced their price target for the company from $22.00 to $19.00 in a research note on Wednesday, August 2nd. Stifel Nicolaus restated a “buy” rating and issued a $21.00 price target on shares of Green Plains Partners in a research note on Thursday, October 12th. BidaskClub upgraded Green Plains Partners from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Roth Capital set a $24.00 price target on Green Plains Partners and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, Robert W. Baird restated a “buy” rating and issued a $24.00 price target on shares of Green Plains Partners in a research note on Thursday, August 24th. Three equities research analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. Green Plains Partners has a consensus rating of “Hold” and an average target price of $22.00.
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Green Plains Partners Company Profile
Green Plains Partners LP provides fuel storage and transportation services. The Company owns, operates, develops and acquires ethanol and fuel storage facilities, terminals, transportation assets, and other related assets and businesses. The Company’s parent company is Green Plains Inc (Green Plains).
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