Calumet Specialty Products Partners, L.P. (CLMT - Free Report) closed at $4.17 in the latest trading session, marking a +1.21% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.07%, and the tech-heavy Nasdaq lost 0.52%.
Heading into today, shares of the company had lost 4.41% over the past month, lagging the Oils-Energy sector's loss of 1.14% and the S&P 500's gain of 3.12% in that time.
CLMT will be looking to display strength as it nears its next earnings release. On that day, CLMT is projected to report earnings of $0.08 per share, which would represent no growth from the year-ago period. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $739.96 million, down 21.74% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.39 per share and revenue of $3.06 billion, which would represent changes of +14.71% and -12.44%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for CLMT. 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.
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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. CLMT is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, CLMT is currently trading at a Forward P/E ratio of 10.7. This valuation marks a discount compared to its industry's average Forward P/E of 13.68.
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 104, putting it in the top 41% 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 CLMT in the coming trading sessions, be sure to utilize Zacks.com.