Global Partners LP (GLP) Stock Sinks As Market Gains: Here's Why
Global Partners LP (GLP) closed at $44.49 in the latest trading session, marking a -0.47% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.86%. Elsewhere, the Dow gained 1.22%, while the tech-heavy Nasdaq added 0.51%.
Coming into today, shares of the company had lost 2.23% in the past month. In that same time, the Oils-Energy sector gained 5.4%, while the S&P 500 gained 2.84%.
The upcoming earnings release of Global Partners LP will be of great interest to investors. On that day, Global Partners LP is projected to report earnings of $0.46 per share, which would represent a year-over-year decline of 34.29%. In the meantime, our current consensus estimate forecasts the revenue to be $5.5 billion, indicating a 36.45% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.90 per share and a revenue of $23.3 billion, representing changes of +3.72% and +41.31%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Global Partners LP. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.26% higher. Right now, Global Partners LP possesses a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Global Partners LP currently has a Forward P/E ratio of 11.46. This represents a discount compared to its industry's average Forward P/E of 15.75.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 21, finds itself in the top 9% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Global Partners LP (GLP) : Free Stock Analysis Report
