Calumet Specialty Products Partners, L.P. (CLMT - Free Report) closed at $4.18 in the latest trading session, marking a +0.48% move from the prior day. This move outpaced the S&P 500's daily loss of 0.95%. Elsewhere, the Dow lost 0.67%, while the tech-heavy Nasdaq lost 1.51%.
Coming into today, shares of the company had lost 8.97% in the past month. In that same time, the Oils-Energy sector gained 3.19%, while the S&P 500 gained 4.32%.
Investors will be hoping for strength from CLMT as it approaches its next earnings release. In that report, analysts expect CLMT to post earnings of $0.08 per share. This would mark no growth from the year-ago period. Meanwhile, our latest consensus estimate is calling for revenue of $739.96 million, down 21.74% from the prior-year quarter.
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.
Any recent changes to analyst estimates for CLMT should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. CLMT currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, CLMT is holding a Forward P/E ratio of 10.81. Its industry sports an average Forward P/E of 13.71, so we one might conclude that CLMT 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 industry currently has a Zacks Industry Rank of 52, which puts it in the top 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 CLMT in the coming trading sessions, be sure to utilize Zacks.com.