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Global Partners LP (GLP) Gains As Market Dips: What You Should Know
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In the latest trading session, Global Partners LP (GLP - Free Report) closed at $33.19, marking a +0.48% move from the previous day. This move outpaced the S&P 500's daily loss of 0.02%. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.12%.
Prior to today's trading, shares of the company had gained 8.97% over the past month. This has outpaced the Oils-Energy sector's gain of 8.02% and the S&P 500's gain of 5.14% in that time.
Investors will be hoping for strength from Global Partners LP as it approaches its next earnings release, which is expected to be August 4, 2023. The company is expected to report EPS of $1.28, down 45.53% 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.85 per share and revenue of $17.54 billion, which would represent changes of -61.58% and -7.06%, respectively, from the prior 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 12.9% higher. Global Partners LP is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that Global Partners LP has a Forward P/E ratio of 8.58 right now. Its industry sports an average Forward P/E of 11.03, 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 industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Global Partners LP (GLP) Gains As Market Dips: What You Should Know
In the latest trading session, Global Partners LP (GLP - Free Report) closed at $33.19, marking a +0.48% move from the previous day. This move outpaced the S&P 500's daily loss of 0.02%. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.12%.
Prior to today's trading, shares of the company had gained 8.97% over the past month. This has outpaced the Oils-Energy sector's gain of 8.02% and the S&P 500's gain of 5.14% in that time.
Investors will be hoping for strength from Global Partners LP as it approaches its next earnings release, which is expected to be August 4, 2023. The company is expected to report EPS of $1.28, down 45.53% 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.85 per share and revenue of $17.54 billion, which would represent changes of -61.58% and -7.06%, respectively, from the prior 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 12.9% higher. Global Partners LP is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that Global Partners LP has a Forward P/E ratio of 8.58 right now. Its industry sports an average Forward P/E of 11.03, 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 industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.