Yahoo Finance Global Partners LP (GLP) Stock Moves -1.19%: What You Should Know
Global Partners LP (GLP) closed at $29.18 in the latest trading session, marking a -1.19% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.65%. Elsewhere, the Dow lost 1.63%, while the tech-heavy Nasdaq lost 6.65%.
Heading into today, shares of the company had lost 13.86% over the past month, lagging the Oils-Energy sector's loss of 4.55% and the S&P 500's gain of 0.3% in that time.
Global Partners LP will be looking to display strength as it nears its next earnings release. On that day, Global Partners LP is projected to report earnings of $0.65 per share, which would represent a year-over-year decline of 14.47%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.45 billion, down 1.17% from the year-ago period.
GLP's full-year Zacks Consensus Estimates are calling for earnings of $2.95 per share and revenue of $18.44 billion. These results would represent year-over-year changes of -70.56% and -2.32%, respectively.
Investors should also note any recent changes to analyst estimates for Global Partners LP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.81% lower. 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 10.01. This represents a discount compared to its industry's average Forward P/E of 12.32.
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 45, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Global Partners LP (GLP) : Free Stock Analysis Report
