Global Partners (NYSE:GLP) issued its quarterly earnings results on Thursday. The energy company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.71), MarketWatch Earnings reports. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $2.73 billion. Global Partners had a return on equity of 8.83% and a net margin of 0.94%.
Shares of Global Partners stock traded down $0.31 on Friday, reaching $19.32. 161,324 shares of the stock were exchanged, compared to its average volume of 118,727. The company has a quick ratio of 0.89, a current ratio of 1.44 and a debt-to-equity ratio of 2.67. Global Partners has a twelve month low of $15.16 and a twelve month high of $21.05. The company has a market capitalization of $691.47 million, a price-to-earnings ratio of 13.90 and a beta of 0.76.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Friday, November 9th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 9.83%. The ex-dividend date of this dividend is Thursday, November 8th. Global Partners’s dividend payout ratio (DPR) is 136.69%.
Several equities research analysts have weighed in on GLP shares. Mitsubishi UFJ Financial Group raised their price target on Global Partners and gave the stock an “underweight” rating in a report on Friday, August 10th. Wells Fargo & Co raised their price target on Global Partners from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Thursday, September 13th. Zacks Investment Research downgraded Global Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Stifel Nicolaus reissued a “hold” rating and issued a $20.00 price target (up previously from $17.00) on shares of Global Partners in a report on Friday, August 10th. Finally, ValuEngine raised Global Partners from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $19.75.
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Global Partners Company Profile
Global Partners LP, a midstream logistics and marketing company, distributes gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial customers in the New England states and New York. It operates in three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.
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