Global Partners (GLP) Set to Announce Quarterly Earnings on Thursday

Global Partners (NYSE:GLP) is set to announce its earnings results before the market opens on Thursday, November 8th. Analysts expect the company to announce earnings of $0.27 per share for the quarter.

Global Partners (NYSE:GLP) last posted its earnings results on Thursday, August 9th. The energy company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.07. The company had revenue of $3.13 billion for the quarter, compared to analyst estimates of $2.66 billion. Global Partners had a return on equity of 8.83% and a net margin of 0.94%. On average, analysts expect Global Partners to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Global Partners stock opened at $20.24 on Thursday. The company has a current ratio of 1.44, a quick ratio of 0.89 and a debt-to-equity ratio of 2.67. The firm has a market capitalization of $627.90 million, a price-to-earnings ratio of 14.54 and a beta of 1.05. Global Partners has a fifty-two week low of $15.16 and a fifty-two week high of $21.05.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Friday, November 9th will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 9.39%. The ex-dividend date is Thursday, November 8th. Global Partners’s dividend payout ratio (DPR) is 136.69%.

Several analysts have weighed in on GLP shares. ValuEngine raised Global Partners from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. Stifel Nicolaus reissued a “hold” rating and issued a $20.00 target price (up previously from $17.00) on shares of Global Partners in a report on Friday, August 10th. Mitsubishi UFJ Financial Group upped their target price on Global Partners and gave the company an “underweight” rating in a report on Friday, August 10th. Zacks Investment Research raised Global Partners from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Monday, August 13th. Finally, Wells Fargo & Co upped their target price on Global Partners from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Thursday, September 13th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Global Partners presently has an average rating of “Hold” and an average price target of $19.75.

About Global Partners

Global Partners LP, a midstream logistics and marketing company, distributes gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial customers in the New England states and New York. It operates in three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.

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Earnings History for Global Partners (NYSE:GLP)

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