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Global Partners LP (GLP) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest trading session, Global Partners LP (GLP - Free Report) closed at $49.07, marking a -0.87% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.32%. On the other hand, the Dow registered a gain of 0.68%, and the technology-centric Nasdaq increased by 0.2%.
Coming into today, shares of the company had gained 4.36% in the past month. In that same time, the Oils-Energy sector gained 6.39%, while the S&P 500 gained 5.11%.
Market participants will be closely following the financial results of Global Partners LP in its upcoming release. It is anticipated that the company will report an EPS of $0.46, marking a 34.29% fall compared to the same quarter of the previous year. 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.
GLP's full-year Zacks Consensus Estimates are calling for earnings of $3.90 per share and revenue of $23.3 billion. These results would represent year-over-year changes of +3.72% and +41.31%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Global Partners LP. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.26% higher. At present, Global Partners LP boasts a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Global Partners LP has a Forward P/E ratio of 12.69 right now. This expresses a discount compared to the average Forward P/E of 15.94 of its industry.
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 23, putting it in the top 10% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Global Partners LP (GLP) Stock Drops Despite Market Gains: Important Facts to Note
In the latest trading session, Global Partners LP (GLP - Free Report) closed at $49.07, marking a -0.87% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.32%. On the other hand, the Dow registered a gain of 0.68%, and the technology-centric Nasdaq increased by 0.2%.
Coming into today, shares of the company had gained 4.36% in the past month. In that same time, the Oils-Energy sector gained 6.39%, while the S&P 500 gained 5.11%.
Market participants will be closely following the financial results of Global Partners LP in its upcoming release. It is anticipated that the company will report an EPS of $0.46, marking a 34.29% fall compared to the same quarter of the previous year. 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.
GLP's full-year Zacks Consensus Estimates are calling for earnings of $3.90 per share and revenue of $23.3 billion. These results would represent year-over-year changes of +3.72% and +41.31%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Global Partners LP. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.26% higher. At present, Global Partners LP boasts a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Global Partners LP has a Forward P/E ratio of 12.69 right now. This expresses a discount compared to the average Forward P/E of 15.94 of its industry.
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 23, putting it in the top 10% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.