Global Partners LP (GLP) closed the most recent trading day at $29.30, moving -0.17% from the previous trading session. This change lagged the S&P 500's daily gain of 1.06%. Elsewhere, the Dow gained 0.71%, while the tech-heavy Nasdaq added 0.18%.
Prior to today's trading, shares of the company had gained 3.82% over the past month. This has lagged the Oils-Energy sector's gain of 4.37% and outpaced the S&P 500's loss of 1.14% in that time.
Wall Street will be looking for positivity from Global Partners LP as it approaches its next earnings report date. The company is expected to report EPS of $1.33, up 54.65% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.11 billion, up 23.8% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.17 per share and revenue of $18.58 billion, which would represent changes of +447.33% and +40.26%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Global Partners LP. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Global Partners LP currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Global Partners LP currently has a Forward P/E ratio of 4.09. For comparison, its industry has an average Forward P/E of 7.67, which means Global Partners LP is trading at a discount to the group.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 53, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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