Global Partners LP (GLP) closed the most recent trading day at $28.16, moving -0.98% from the previous trading session. This change was narrower than the S&P 500's 1.13% loss on the day. Elsewhere, the Dow lost 1.01%, while the tech-heavy Nasdaq lost 0.13%.
Heading into today, shares of the company had gained 2.93% over the past month, outpacing the Oils-Energy sector's loss of 1.89% and the S&P 500's loss of 7.59% in that time.
Wall Street will be looking for positivity from Global Partners LP as it approaches its next earnings report date. The company is expected to report EPS of $1.33, up 54.65% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.11 billion, up 23.8% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.17 per share and revenue of $18.58 billion. These totals would mark changes of +447.33% and +40.26%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Global Partners LP. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Global Partners LP is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Global Partners LP's current valuation metrics, including its Forward P/E ratio of 3.97. This valuation marks a discount compared to its industry's average Forward P/E of 8.79.
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 90, which puts it in the top 36% 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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