Global Partners LP (GLP) Stock Moves -1.42%: What You Should Know
Global Partners LP (GLP) closed the most recent trading day at $26.33, moving -1.42% from the previous trading session. This move was narrower than the S&P 500's daily loss of 2.37%. Elsewhere, the Dow lost 1.35%, while the tech-heavy Nasdaq lost 0.24%.
Heading into today, shares of the company had lost 8.21% over the past month, lagging the Oils-Energy sector's gain of 0.87% and the S&P 500's loss of 6.51% in that time.
Global Partners LP will be looking to display strength as it nears its next earnings release. On that day, Global Partners LP is projected to report earnings of $1.33 per share, which would represent year-over-year growth of 54.65%. Meanwhile, our latest consensus estimate is calling for revenue of $4.11 billion, up 23.8% from the prior-year quarter.
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 recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Global Partners LP is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Global Partners LP currently has a Forward P/E ratio of 3.73. This valuation marks a discount compared to its industry's average Forward P/E of 8.58.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow GLP in the coming trading sessions, be sure to utilize Zacks.com.
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