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Why Global Partners LP (GLP) Dipped More Than Broader Market Today

Global Partners LP (GLP) ended the recent trading session at $46.77, demonstrating a -1.2% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.6% for the day. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq lost 0.92%.

Heading into today, shares of the company had gained 7.64% over the past month, outpacing the Oils-Energy sector's gain of 5.59% and the S&P 500's gain of 3.56% in that time.

The upcoming earnings release of Global Partners LP will be of great interest to investors. The company's earnings report is expected on February 28, 2024. It is anticipated that the company will report an EPS of $0.96, marking a 37.66% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $4.39 billion, reflecting a 0.76% fall from the equivalent quarter last year.

Investors should also pay attention to any latest changes in analyst estimates for Global Partners LP. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

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Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Global Partners LP is currently a Zacks Rank #5 (Strong Sell).

Investors should also note Global Partners LP's current valuation metrics, including its Forward P/E ratio of 12.17. This expresses a discount compared to the average Forward P/E of 14.62 of its industry.

The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 218, this industry ranks in the bottom 14% of all industries, numbering over 250.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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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