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

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

NYSE:GLP traded down $0.38 during midday trading on Friday, hitting $19.95. The company’s stock had a trading volume of 133,860 shares, compared to its average volume of 77,422. Global Partners has a fifty-two week low of $13.63 and a fifty-two week high of $21.62. The firm’s 50 day moving average is $20.06 and its 200-day moving average is $19.87. 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 firm has a market cap of $691.02 million, a P/E ratio of 11.53 and a beta of 0.90.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 10.43%. The ex-dividend date of this dividend is Thursday, November 7th. This is an increase from Global Partners’s previous quarterly dividend of $0.52. Global Partners’s dividend payout ratio is 119.08%.

Several brokerages recently weighed in on GLP. Zacks Investment Research downgraded shares of Global Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. ValuEngine downgraded shares of Global Partners from a “sell” rating to a “strong sell” rating in a 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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