Yahoo Finance Global Partners LP (GLP) Rises As Market Takes a Dip: Key Facts
In the latest trading session, Global Partners LP (GLP) closed at $47.33, marking a +1.39% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.46%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 0.64%.
Shares of the company have appreciated by 4.92% over the course of the past month, outperforming the Oils-Energy sector's gain of 4.21% and the S&P 500's loss of 3.04%.
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 May 8, 2024. The company is forecasted to report an EPS of $0.10, showcasing an 85.71% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $5.22 billion, indicating a 29.54% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.53 per share and revenue of $23.03 billion. These totals would mark changes of -6.12% and +39.62%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 9.49% fall in the Zacks Consensus EPS estimate. Global Partners LP is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Global Partners LP is holding a Forward P/E ratio of 13.22. This signifies a discount in comparison to the average Forward P/E of 16.6 for its industry.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 68, positioning it in the top 27% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Global Partners LP (GLP) : Free Stock Analysis Report
