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Global Partners LP (GLP) Rises Yet Lags Behind Market: Some Facts Worth Knowing
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Global Partners LP (GLP - Free Report) closed the latest trading day at $31.87, indicating a +0.28% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 1.05%. At the same time, the Dow added 0.67%, and the tech-heavy Nasdaq gained 1.64%.
Coming into today, shares of the company had gained 12.1% in the past month. In that same time, the Oils-Energy sector lost 4.49%, while the S&P 500 lost 2.21%.
Analysts and investors alike will be keeping a close eye on the performance of Global Partners LP in its upcoming earnings disclosure. The company's earnings report is set to go public on November 9, 2023. In that report, analysts expect Global Partners LP to post earnings of $0.69 per share. This would mark a year-over-year decline of 77.88%. At the same time, our most recent consensus estimate is projecting a revenue of $4.26 billion, reflecting a 7.82% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.45 per share and a revenue of $17.17 billion, indicating changes of -65.57% and -9.05%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Global Partners LP. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.29% lower. Global Partners LP is holding a Zacks Rank of #4 (Sell) right now.
In the context of valuation, Global Partners LP is at present trading with a Forward P/E ratio of 9.21. This indicates a discount in contrast to its industry's Forward P/E of 14.66.
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 91, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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) Rises Yet Lags Behind Market: Some Facts Worth Knowing
Global Partners LP (GLP - Free Report) closed the latest trading day at $31.87, indicating a +0.28% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 1.05%. At the same time, the Dow added 0.67%, and the tech-heavy Nasdaq gained 1.64%.
Coming into today, shares of the company had gained 12.1% in the past month. In that same time, the Oils-Energy sector lost 4.49%, while the S&P 500 lost 2.21%.
Analysts and investors alike will be keeping a close eye on the performance of Global Partners LP in its upcoming earnings disclosure. The company's earnings report is set to go public on November 9, 2023. In that report, analysts expect Global Partners LP to post earnings of $0.69 per share. This would mark a year-over-year decline of 77.88%. At the same time, our most recent consensus estimate is projecting a revenue of $4.26 billion, reflecting a 7.82% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.45 per share and a revenue of $17.17 billion, indicating changes of -65.57% and -9.05%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Global Partners LP. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.29% lower. Global Partners LP is holding a Zacks Rank of #4 (Sell) right now.
In the context of valuation, Global Partners LP is at present trading with a Forward P/E ratio of 9.21. This indicates a discount in contrast to its industry's Forward P/E of 14.66.
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 91, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.