Zacks: Brokerages Anticipate Global Partners LP (GLP) Will Announce Earnings of $0.25 Per Share

Equities analysts expect that Global Partners LP (NYSE:GLP) will report $0.25 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Global Partners’ earnings, with estimates ranging from $0.16 to $0.33. Global Partners reported earnings of $0.03 per share during the same quarter last year, which indicates a positive year over year growth rate of 733.3%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, November 8th.

On average, analysts expect that Global Partners will report full year earnings of $0.89 per share for the current year, with EPS estimates ranging from $0.51 to $1.19. For the next year, analysts expect that the company will report earnings of $0.47 per share, with EPS estimates ranging from $0.11 to $0.64. Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow Global Partners.

Global Partners (NYSE:GLP) last released its earnings results on Wednesday, August 9th. The energy company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.15 billion. Global Partners had a positive return on equity of 0.21% and a negative net margin of 1.83%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.22) earnings per share.

GLP has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Global Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Stifel Nicolaus reissued a “buy” rating and set a $21.00 price objective on shares of Global Partners in a research report on Friday, July 28th. Finally, BidaskClub raised shares of Global Partners from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $18.40.

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Several large investors have recently added to or reduced their stakes in GLP. Goldman Sachs Group Inc. grew its position in shares of Global Partners by 20.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 951,845 shares of the energy company’s stock worth $17,181,000 after buying an additional 159,895 shares during the period. Kayne Anderson Capital Advisors LP grew its position in shares of Global Partners by 3.0% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 1,820,223 shares of the energy company’s stock worth $32,851,000 after buying an additional 53,700 shares during the period. GSA Capital Partners LLP grew its position in shares of Global Partners by 267.8% in the 2nd quarter. GSA Capital Partners LLP now owns 48,556 shares of the energy company’s stock worth $876,000 after buying an additional 35,356 shares during the period. HITE Hedge Asset Management LLC grew its position in shares of Global Partners by 5.2% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 653,220 shares of the energy company’s stock worth $11,791,000 after buying an additional 32,000 shares during the period. Finally, Winslow Evans & Crocker Inc. grew its position in shares of Global Partners by 81.6% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 57,165 shares of the energy company’s stock worth $1,052,000 after buying an additional 25,691 shares during the period. 39.81% of the stock is currently owned by hedge funds and other institutional investors.

Global Partners (NYSE:GLP) traded down $0.05 on Friday, reaching $17.55. The company’s stock had a trading volume of 29,053 shares, compared to its average volume of 34,967. The company has a debt-to-equity ratio of 2.71, a current ratio of 1.59 and a quick ratio of 0.78. The firm has a market capitalization of $596.62, a P/E ratio of 351.00 and a beta of 1.10. Global Partners has a 12-month low of $14.85 and a 12-month high of $21.95.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Thursday, November 9th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 10.54%. The ex-dividend date of this dividend is Wednesday, November 8th. Global Partners’s dividend payout ratio is presently -39.11%.

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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