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Global Partners LP (GLP) Dips More Than Broader Markets: What You Should Know
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Global Partners LP (GLP - Free Report) closed at $34.07 in the latest trading session, marking a -0.61% move from the prior day. This change lagged the S&P 500's 0.16% loss on the day. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 1.58%.
Heading into today, shares of the company had gained 2.18% over the past month, outpacing the Oils-Energy sector's loss of 4.75% and the S&P 500's gain of 0.84% in that time.
Wall Street will be looking for positivity from Global Partners LP as it approaches its next earnings report date. This is expected to be February 27, 2023. 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%. Our most recent consensus estimate is calling for quarterly revenue of $4.51 billion, up 10.15% from the year-ago period.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Global Partners LP currently has a Forward P/E ratio of 10.71. This valuation marks a discount compared to its industry's average Forward P/E of 12.29.
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 31, putting it in the top 13% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Global Partners LP (GLP) Dips More Than Broader Markets: What You Should Know
Global Partners LP (GLP - Free Report) closed at $34.07 in the latest trading session, marking a -0.61% move from the prior day. This change lagged the S&P 500's 0.16% loss on the day. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 1.58%.
Heading into today, shares of the company had gained 2.18% over the past month, outpacing the Oils-Energy sector's loss of 4.75% and the S&P 500's gain of 0.84% in that time.
Wall Street will be looking for positivity from Global Partners LP as it approaches its next earnings report date. This is expected to be February 27, 2023. 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%. Our most recent consensus estimate is calling for quarterly revenue of $4.51 billion, up 10.15% from the year-ago period.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Global Partners LP currently has a Forward P/E ratio of 10.71. This valuation marks a discount compared to its industry's average Forward P/E of 12.29.
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 31, putting it in the top 13% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.