Yahoo Finance Global Partners LP (GLP) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Global Partners LP (GLP) closed at $33.15, marking a -0.54% move from the previous day. This change lagged the S&P 500's 0.34% gain on the day. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 8.98%.
Heading into today, shares of the company had lost 2.86% over the past month, lagging the Oils-Energy sector's gain of 5.07% and the S&P 500's gain of 1% in that time.
Investors will be hoping for strength from Global Partners LP as it approaches its next earnings release. In that report, analysts expect Global Partners LP to post earnings of $1.40 per share. This would mark year-over-year growth of 218.18%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.51 billion, up 10.15% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Global Partners LP. These revisions help to show the ever-changing nature of near-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Global Partners LP is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Global Partners LP currently has a Forward P/E ratio of 10.42. Its industry sports an average Forward P/E of 11.92, so we one might conclude that Global Partners LP is trading at a discount comparatively.
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 235, putting it in the bottom 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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
