Wall Street brokerages forecast that Global Partners LP (NYSE:GLP) will announce sales of $2.29 billion for the current quarter, according to Zacks. Two analysts have provided estimates for Global Partners’ earnings. The lowest sales estimate is $2.23 billion and the highest is $2.34 billion. Global Partners reported sales of $2.03 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.8%. The company is scheduled to report its next quarterly earnings report on Monday, November 6th.

On average, analysts expect that Global Partners will report full year sales of $2.29 billion for the current financial year, with estimates ranging from $8.36 billion to $9.31 billion. For the next fiscal year, analysts anticipate that the company will report sales of $9.21 billion per share, with estimates ranging from $8.15 billion to $10.29 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Global Partners.

Global Partners (NYSE:GLP) last announced its quarterly earnings results on Wednesday, August 9th. The energy company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.15 billion. Global Partners had a positive return on equity of 0.21% and a negative net margin of 1.83%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.22) earnings per share.

Several equities analysts recently issued reports on the company. Zacks Investment Research raised Global Partners from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Tuesday. Stifel Nicolaus reissued a “buy” rating and set a $20.00 target price on shares of Global Partners in a research note on Thursday, August 10th. BidaskClub raised Global Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, August 4th. Finally, Janney Montgomery Scott assumed coverage on Global Partners in a research note on Friday, June 23rd. They set a “neutral” rating and a $18.00 target price on the stock. Three research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $18.40.

Hedge funds and other institutional investors have recently modified their holdings of the business. Global X Management Co. LLC increased its holdings in Global Partners by 5.5% during the 1st quarter. Global X Management Co. LLC now owns 10,351 shares of the energy company’s stock worth $202,000 after purchasing an additional 535 shares during the period. Virtu KCG Holdings LLC purchased a new stake in Global Partners during the 2nd quarter worth about $187,000. JPMorgan Chase & Co. increased its holdings in Global Partners by 448.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,436 shares of the energy company’s stock worth $188,000 after purchasing an additional 8,534 shares during the period. Acadian Asset Management LLC purchased a new stake in Global Partners during the 2nd quarter worth about $199,000. Finally, Cutler Capital Management LLC purchased a new stake in Global Partners during the 2nd quarter worth about $254,000. Institutional investors own 39.85% of the company’s stock.

Shares of Global Partners (NYSE GLP) traded up 0.693% during trading on Wednesday, hitting $18.175. The stock had a trading volume of 12,127 shares. The stock’s market cap is $609.84 million. The company’s 50 day moving average price is $17.32 and its 200 day moving average price is $18.06. Global Partners has a 12 month low of $14.85 and a 12 month high of $21.95.

TRADEMARK VIOLATION WARNING: “$2.29 Billion in Sales Expected for Global Partners LP (GLP) This Quarter” was published by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark legislation. The legal version of this report can be accessed at https://www.watchlistnews.com/2-29-billion-in-sales-expected-for-global-partners-lp-glp-this-quarter/1638785.html.

Global Partners Company Profile

Global Partners LP is a midstream logistics and marketing company. It is engaged in the purchasing, selling, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane.

Get a free copy of the Zacks research report on Global Partners (GLP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Global Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Partners LP and related companies with Analyst Ratings Network's FREE daily email newsletter.