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Global Partners LP (GLP) Outpaces Stock Market Gains: What You Should Know
Global Partners LP (GLP - Free Report) closed the most recent trading day at $37.55, moving +1.51% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.05%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, added 9.7%.
Heading into today, shares of the company had gained 8.16% over the past month, outpacing the Oils-Energy sector's gain of 3.04% and the S&P 500's gain of 6.27% in that time.
Investors will be hoping for strength from Global Partners LP as it approaches its next earnings release. On that day, Global Partners LP is projected to report earnings of $1.40 per share, which would represent year-over-year growth of 218.18%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.51 billion, up 10.15% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Global Partners LP. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Global Partners LP currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Global Partners LP is currently trading at a Forward P/E ratio of 11.56. This represents a discount compared to its industry's average Forward P/E of 12.08.
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 29, putting it in the top 12% 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.