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Global Partners LP (GLP) Increases Despite Market Slip: Here's What You Need to Know
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Global Partners LP (GLP - Free Report) closed at $30.98 in the latest trading session, marking a +1.61% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 1.34%. Elsewhere, the Dow saw a downswing of 0.98%, while the tech-heavy Nasdaq depreciated by 1.62%.
Heading into today, shares of the company had lost 6.62% over the past month, lagging the Oils-Energy sector's gain of 0.46% and the S&P 500's loss of 1.57% in that time.
Market participants will be closely following the financial results of Global Partners LP in its upcoming release. The company is forecasted to report an EPS of $0.81, showcasing a 74.04% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.26 billion, indicating a 7.82% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.46 per share and revenue of $17.17 billion, which would represent changes of -65.47% and -9.05%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Global Partners LP. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain 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).
With respect to valuation, Global Partners LP is currently being traded at a Forward P/E ratio of 8.81. This denotes a discount relative to the industry's average Forward P/E of 14.97.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 201, finds itself in the bottom 21% echelons of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Global Partners LP (GLP) Increases Despite Market Slip: Here's What You Need to Know
Global Partners LP (GLP - Free Report) closed at $30.98 in the latest trading session, marking a +1.61% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 1.34%. Elsewhere, the Dow saw a downswing of 0.98%, while the tech-heavy Nasdaq depreciated by 1.62%.
Heading into today, shares of the company had lost 6.62% over the past month, lagging the Oils-Energy sector's gain of 0.46% and the S&P 500's loss of 1.57% in that time.
Market participants will be closely following the financial results of Global Partners LP in its upcoming release. The company is forecasted to report an EPS of $0.81, showcasing a 74.04% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.26 billion, indicating a 7.82% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.46 per share and revenue of $17.17 billion, which would represent changes of -65.47% and -9.05%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Global Partners LP. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain 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).
With respect to valuation, Global Partners LP is currently being traded at a Forward P/E ratio of 8.81. This denotes a discount relative to the industry's average Forward P/E of 14.97.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 201, finds itself in the bottom 21% echelons of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.