Global Partners (NYSE:GLP) Releases Earnings Results, Beats Estimates By $0.54 EPS

Global Partners (NYSE:GLP) announced its earnings results on Thursday. The energy company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.54, Fidelity Earnings reports. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.32 billion. Global Partners had a net margin of 0.45% and a return on equity of 14.37%.

Shares of GLP traded down $0.38 during mid-day trading on Friday, reaching $19.95. 133,860 shares of the company’s stock were exchanged, compared to its average volume of 77,422. The company has a debt-to-equity ratio of 3.55, a current ratio of 1.33 and a quick ratio of 0.72. The stock has a market capitalization of $691.02 million, a PE ratio of 11.53 and a beta of 0.90. The business’s fifty day simple moving average is $20.06 and its 200-day simple moving average is $19.87. Global Partners has a 52-week low of $13.63 and a 52-week high of $21.62.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, November 7th. This is a positive change from Global Partners’s previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a dividend yield of 10.43%. Global Partners’s dividend payout ratio (DPR) is 119.08%.

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A number of equities analysts have recently issued reports on GLP shares. Zacks Investment Research lowered shares of Global Partners from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. ValuEngine lowered shares of Global Partners from a “sell” rating to a “strong sell” rating in a research report on Friday.

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 in the New England states and New York.

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Earnings History for Global Partners (NYSE:GLP)

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