Global Partners (GLP) Scheduled to Post Quarterly Earnings on Friday

Global Partners (NYSE:GLP) will be announcing its earnings results before the market opens on Friday, November 8th. Analysts expect the company to announce earnings of $1.57 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Global Partners (NYSE:GLP) last issued its quarterly earnings results on Wednesday, August 7th. The energy company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.40). The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $5.51 billion. Global Partners had a return on equity of 19.21% and a net margin of 0.71%. On average, analysts expect Global Partners to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Global Partners Stock Up 2.7 %

Shares of GLP opened at $47.94 on Wednesday. The company has a market cap of $1.63 billion, a PE ratio of 17.50 and a beta of 1.38. The business has a fifty day moving average of $45.50 and a 200 day moving average of $44.63. Global Partners has a 52-week low of $30.00 and a 52-week high of $50.85. The company has a quick ratio of 0.62, a current ratio of 1.10 and a debt-to-equity ratio of 2.52.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 8th will be given a $0.73 dividend. The ex-dividend date is Friday, November 8th. This is an increase from Global Partners’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a yield of 6.09%. Global Partners’s dividend payout ratio (DPR) is currently 105.11%.

Insiders Place Their Bets

In other Global Partners news, insider Global Gp Llc bought 2,226 shares of Global Partners stock in a transaction on Friday, September 20th. The shares were acquired at an average price of $44.71 per share, for a total transaction of $99,524.46. Following the completion of the purchase, the insider now directly owns 268,307 shares in the company, valued at approximately $11,996,005.97. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 43,226 shares of company stock worth $1,872,989 over the last quarter. Company insiders own 41.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus raised their price target on Global Partners from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, August 9th.

Global Partners Company Profile

Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.