Analysts Anticipate Calumet Specialty Products Partners, L.P. (CLMT) to Announce -$0.44 EPS

Equities research analysts expect Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) to announce earnings of ($0.44) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Calumet Specialty Products Partners, L.P.’s earnings, with estimates ranging from ($0.90) to ($0.15). Calumet Specialty Products Partners, L.P. posted earnings per share of ($0.57) in the same quarter last year, which suggests a positive year over year growth rate of 22.8%. The company is scheduled to announce its next quarterly earnings report on Thursday, August 3rd.

On average, analysts expect that Calumet Specialty Products Partners, L.P. will report full year earnings of ($1.22) per share for the current year, with EPS estimates ranging from ($1.97) to ($0.68). For the next year, analysts anticipate that the company will post earnings of ($1.06) per share, with EPS estimates ranging from ($1.58) to ($0.61). Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Calumet Specialty Products Partners, L.P..

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) last posted its quarterly earnings data on Thursday, May 4th. The oil and gas company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.60. Calumet Specialty Products Partners, L.P. had a negative net margin of 6.97% and a negative return on equity of 65.80%. The company had revenue of $937.40 million for the quarter, compared to the consensus estimate of $1.02 billion.

A number of brokerages have recently weighed in on CLMT. Credit Suisse Group cut Calumet Specialty Products Partners, L.P. from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $5.00 to $3.00 in a research note on Friday, March 24th. Wells Fargo & Company raised Calumet Specialty Products Partners, L.P. from a “market perform” rating to an “outperform” rating and set a $6.00 price objective for the company in a research note on Wednesday, May 10th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $4.00 price objective on shares of Calumet Specialty Products Partners, L.P. in a research note on Thursday, March 30th. Finally, FBR & Co reaffirmed a “hold” rating and issued a $4.00 price objective on shares of Calumet Specialty Products Partners, L.P. in a research note on Tuesday, February 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $4.30.

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) traded up 2.27% on Thursday, hitting $4.50. 43,467 shares of the stock traded hands. The firm’s 50 day moving average is $4.09 and its 200 day moving average is $4.01. Calumet Specialty Products Partners, L.P. has a 52 week low of $2.79 and a 52 week high of $6.41. The stock’s market cap is $345.11 million.

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In related news, Director James S. Carter bought 13,600 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was purchased at an average cost of $3.70 per share, with a total value of $50,320.00. Following the purchase, the director now directly owns 93,441 shares of the company’s stock, valued at approximately $345,731.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.75% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in Calumet Specialty Products Partners, L.P. by 5.0% in the first quarter. Fifth Third Bancorp now owns 31,800 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 1,500 shares during the last quarter. Geode Capital Management LLC boosted its position in Calumet Specialty Products Partners, L.P. by 38.8% in the first quarter. Geode Capital Management LLC now owns 48,308 shares of the oil and gas company’s stock valued at $183,000 after buying an additional 13,512 shares during the last quarter. Linscomb & Williams Inc. boosted its position in Calumet Specialty Products Partners, L.P. by 0.6% in the first quarter. Linscomb & Williams Inc. now owns 98,163 shares of the oil and gas company’s stock valued at $373,000 after buying an additional 600 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Calumet Specialty Products Partners, L.P. by 6.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 137,703 shares of the oil and gas company’s stock valued at $551,000 after buying an additional 8,760 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its position in Calumet Specialty Products Partners, L.P. by 373.9% in the fourth quarter. GSA Capital Partners LLP now owns 137,900 shares of the oil and gas company’s stock valued at $552,000 after buying an additional 108,800 shares during the last quarter. 11.26% of the stock is owned by hedge funds and other institutional investors.

About Calumet Specialty Products Partners, L.P.

Calumet Specialty Products Partners, L.P. is a producer of specialty hydrocarbon products in North America. The Company operates through three segments: specialty products, fuel products and oilfield services. In its specialty products segment, the Company processes crude oil and other feedstocks into a range of customized lubricating oils, white mineral oils, solvents, petrolatums and waxes.

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