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Global Partners LP (GLP) Gains But Lags Market: What You Should Know
Global Partners LP (GLP - Free Report) closed at $36.54 in the latest trading session, marking a +0.25% move from the prior day. The stock lagged the S&P 500's daily gain of 1.1%. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 6.59%.
Heading into today, shares of the company had gained 3.37% over the past month, outpacing the Oils-Energy sector's gain of 2.39% and lagging the S&P 500's gain of 4.58% in that time.
Investors will be hoping for strength from Global Partners LP as it approaches its next earnings release. In that report, analysts expect Global Partners LP to post earnings of $1.40 per share. This would mark year-over-year growth of 218.18%. Meanwhile, our latest consensus estimate is calling for revenue of $4.51 billion, up 10.15% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Global Partners LP. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 currently has a Zacks Rank of #2 (Buy).
Investors should also note Global Partners LP's current valuation metrics, including its Forward P/E ratio of 11.39. This valuation marks a discount compared to its industry's average Forward P/E of 11.92.
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 2, putting it in the top 1% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.