Yahoo Finance Global Partners LP (GLP) Gains As Market Dips: What You Should Know
In the latest trading session, Global Partners LP (GLP) closed at $46.10, marking a +1.25% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.88%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq lost 2.05%.
Coming into today, shares of the company had lost 7.21% in the past month. In that same time, the Oils-Energy sector gained 2.78%, while the S&P 500 lost 2.57%.
The investment community will be paying close attention to the earnings performance of Global Partners LP in its upcoming release. The company's earnings per share (EPS) are projected to be $0.46, reflecting a 34.29% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $5.5 billion, indicating a 36.45% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.90 per share and a revenue of $23.3 billion, signifying shifts of +3.72% and +41.31%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Global Partners LP. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Global Partners LP holds a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Global Partners LP currently has a Forward P/E ratio of 11.67. This signifies a discount in comparison to the average Forward P/E of 15.52 for its industry.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 75, this industry ranks in the top 30% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Global Partners LP (GLP) : Free Stock Analysis Report
