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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 the most recent trading day at $32.65, moving -1.42% from the previous trading session. This move lagged the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq lost 0.23%.
Prior to today's trading, shares of the company had gained 4.05% over the past month. This has lagged the Oils-Energy sector's gain of 4.72% and outpaced the S&P 500's gain of 2.08% in that time.
Wall Street will be looking for positivity from Global Partners LP as it approaches its next earnings report date. In that report, analysts expect Global Partners LP to post earnings of $0.81 per share. This would mark a year-over-year decline of 74.04%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.26 billion, down 7.82% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.46 per share and revenue of $17.17 billion, which would represent changes of -65.47% and -9.05%, respectively, from the prior year.
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 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Global Partners LP is currently a Zacks Rank #2 (Buy).
Digging into valuation, Global Partners LP currently has a Forward P/E ratio of 9.57. Its industry sports an average Forward P/E of 14.25, so we one might conclude that Global Partners LP is trading at a discount comparatively.
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 201, putting it in the bottom 21% 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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Global Partners LP (GLP) Dips More Than Broader Markets: What You Should Know
Global Partners LP (GLP - Free Report) closed the most recent trading day at $32.65, moving -1.42% from the previous trading session. This move lagged the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq lost 0.23%.
Prior to today's trading, shares of the company had gained 4.05% over the past month. This has lagged the Oils-Energy sector's gain of 4.72% and outpaced the S&P 500's gain of 2.08% in that time.
Wall Street will be looking for positivity from Global Partners LP as it approaches its next earnings report date. In that report, analysts expect Global Partners LP to post earnings of $0.81 per share. This would mark a year-over-year decline of 74.04%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.26 billion, down 7.82% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.46 per share and revenue of $17.17 billion, which would represent changes of -65.47% and -9.05%, respectively, from the prior year.
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 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Global Partners LP is currently a Zacks Rank #2 (Buy).
Digging into valuation, Global Partners LP currently has a Forward P/E ratio of 9.57. Its industry sports an average Forward P/E of 14.25, so we one might conclude that Global Partners LP is trading at a discount comparatively.
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 201, putting it in the bottom 21% 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.