CrossAmerica Partners (NYSE:CAPL) Posts Quarterly Earnings Results, Misses Estimates By $0.21 EPS

CrossAmerica Partners (NYSE:CAPL) released its earnings results on Wednesday. The oil and gas company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.21), Zacks reports. CrossAmerica Partners had a negative return on equity of 37.73% and a net margin of 1.43%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.02 billion.

CrossAmerica Partners Trading Down 1.9%

NYSE:CAPL traded down $0.40 on Thursday, hitting $19.88. 90,801 shares of the company’s stock traded hands, compared to its average volume of 42,707. The company has a market cap of $758.63 million, a PE ratio of 14.51 and a beta of 0.29. CrossAmerica Partners has a 1 year low of $19.65 and a 1 year high of $24.63. The firm has a 50-day moving average price of $22.11 and a 200-day moving average price of $22.02.

CrossAmerica Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Monday, November 2nd will be paid a dividend of $0.5250 per share. This represents a $2.10 annualized dividend and a yield of 10.6%. The ex-dividend date of this dividend is Monday, November 2nd. CrossAmerica Partners’s payout ratio is 153.28%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CAPL. Weiss Ratings restated a “hold (c)” rating on shares of CrossAmerica Partners in a report on Tuesday, September 8th. Zacks Research downgraded CrossAmerica Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Two equities research analysts have rated the stock with a Hold rating. According to MarketBeat, CrossAmerica Partners currently has a consensus rating of “Hold”.

CrossAmerica Partners Company Profile

CrossAmerica Partners LP (NYSE: CAPL) is a publicly traded master limited partnership focused on the wholesale distribution of motor fuels and the ownership or leasing of assets used in fuel retailing. The partnership supplies gasoline and diesel to independent dealers, commercial customers, and other retail operators through a network of fuel supply and distribution arrangements.

In addition to fuel distribution, CrossAmerica owns or leases convenience stores, gas stations, and related real estate.