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Why the Market Dipped But Global Partners LP (GLP) Gained Today

In the latest market close, Global Partners LP (GLP) reached $46.02, with a +0.9% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.1%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 0.3%.

The the stock of company has risen by 7.02% in the past month, leading the Oils-Energy sector's gain of 1.15% and the S&P 500's gain of 5.78%.

The investment community will be closely monitoring the performance of Global Partners LP in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.96, reflecting a 37.66% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.39 billion, indicating a 0.76% decrease compared to the same quarter of the previous year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Global Partners LP. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 6.71% lower. Global Partners LP currently has a Zacks Rank of #5 (Strong Sell).

Digging into valuation, Global Partners LP currently has a Forward P/E ratio of 11.73. This represents a discount compared to its industry's average Forward P/E of 14.1.

The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 222, placing it within the bottom 12% of over 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.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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Global Partners LP (GLP) : Free Stock Analysis Report

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