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Why Global Partners LP (GLP) Dipped More Than Broader Market Today
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Global Partners LP (GLP - Free Report) closed the latest trading day at $43.20, indicating a -1.8% change from the previous session's end. The stock's change was less than the S&P 500's daily loss of 0.56%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq lost 0.59%.
Heading into today, shares of the company had gained 6.13% over the past month, outpacing the Oils-Energy sector's loss of 2.83% and the S&P 500's gain of 1.2% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Global Partners LP in its upcoming earnings disclosure. On that day, Global Partners LP is projected to report earnings of $0.69 per share, which would represent a year-over-year decline of 55.19%. Simultaneously, our latest consensus estimate expects the revenue to be $4.39 billion, showing a 0.76% drop compared to the year-ago quarter.
It is also important to note the recent changes to analyst estimates for Global Partners LP. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Global Partners LP is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Global Partners LP's current valuation metrics, including its Forward P/E ratio of 10.55. This signifies a discount in comparison to the average Forward P/E of 14.48 for its industry.
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 49, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why Global Partners LP (GLP) Dipped More Than Broader Market Today
Global Partners LP (GLP - Free Report) closed the latest trading day at $43.20, indicating a -1.8% change from the previous session's end. The stock's change was less than the S&P 500's daily loss of 0.56%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq lost 0.59%.
Heading into today, shares of the company had gained 6.13% over the past month, outpacing the Oils-Energy sector's loss of 2.83% and the S&P 500's gain of 1.2% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Global Partners LP in its upcoming earnings disclosure. On that day, Global Partners LP is projected to report earnings of $0.69 per share, which would represent a year-over-year decline of 55.19%. Simultaneously, our latest consensus estimate expects the revenue to be $4.39 billion, showing a 0.76% drop compared to the year-ago quarter.
It is also important to note the recent changes to analyst estimates for Global Partners LP. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Global Partners LP is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Global Partners LP's current valuation metrics, including its Forward P/E ratio of 10.55. This signifies a discount in comparison to the average Forward P/E of 14.48 for its industry.
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 49, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
You can find more information on all of these metrics, and much more, on Zacks.com.