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Global Partners LP (GLP) Dips More Than Broader Markets: What You Should Know
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Global Partners LP (GLP - Free Report) closed at $32.15 in the latest trading session, marking a -0.71% move from the prior day. This change lagged the S&P 500's 0.68% loss on the day. At the same time, the Dow added 0.47%, and the tech-heavy Nasdaq lost 3.19%.
Heading into today, shares of the company had gained 6.76% over the past month, outpacing the Oils-Energy sector's gain of 1.28% and the S&P 500's gain of 3.58% in that time.
Wall Street will be looking for positivity from Global Partners LP as it approaches its next earnings report date. The company is expected to report EPS of $0.99, down 57.87% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.09 billion, down 23.26% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.41 per share and revenue of $17.54 billion. These totals would mark changes of -65.97% and -7.06%, respectively, from last year.
Any recent changes to analyst estimates for Global Partners LP should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Global Partners LP is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Global Partners LP has a Forward P/E ratio of 9.5 right now. Its industry sports an average Forward P/E of 10.92, so we one might conclude that Global Partners LP 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 group has a Zacks Industry Rank of 93, putting it in the top 37% 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 GLP in the coming trading sessions, be sure to utilize Zacks.com.
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Global Partners LP (GLP) Dips More Than Broader Markets: What You Should Know
Global Partners LP (GLP - Free Report) closed at $32.15 in the latest trading session, marking a -0.71% move from the prior day. This change lagged the S&P 500's 0.68% loss on the day. At the same time, the Dow added 0.47%, and the tech-heavy Nasdaq lost 3.19%.
Heading into today, shares of the company had gained 6.76% over the past month, outpacing the Oils-Energy sector's gain of 1.28% and the S&P 500's gain of 3.58% in that time.
Wall Street will be looking for positivity from Global Partners LP as it approaches its next earnings report date. The company is expected to report EPS of $0.99, down 57.87% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.09 billion, down 23.26% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.41 per share and revenue of $17.54 billion. These totals would mark changes of -65.97% and -7.06%, respectively, from last year.
Any recent changes to analyst estimates for Global Partners LP should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Global Partners LP is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Global Partners LP has a Forward P/E ratio of 9.5 right now. Its industry sports an average Forward P/E of 10.92, so we one might conclude that Global Partners LP 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 group has a Zacks Industry Rank of 93, putting it in the top 37% 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 GLP in the coming trading sessions, be sure to utilize Zacks.com.