Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Expected to Announce Earnings of -$0.13 Per Share

Equities research analysts expect Calumet Specialty Products Partners, L.P. (NASDAQ:CLMTGet Rating) to report earnings of ($0.13) per share for the current quarter, Zacks reports. Two analysts have made estimates for Calumet Specialty Products Partners’ earnings, with the lowest EPS estimate coming in at ($0.64) and the highest estimate coming in at $0.17. Calumet Specialty Products Partners posted earnings per share of ($0.97) during the same quarter last year, which suggests a positive year-over-year growth rate of 86.6%. The company is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Calumet Specialty Products Partners will report full year earnings of ($1.43) per share for the current year, with EPS estimates ranging from ($1.81) to ($1.24). For the next year, analysts forecast that the firm will post earnings of $1.36 per share, with EPS estimates ranging from $1.22 to $1.52. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Calumet Specialty Products Partners.

Calumet Specialty Products Partners (NASDAQ:CLMTGet Rating) last announced its quarterly earnings data on Friday, May 6th. The oil and gas company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.31). The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $870.80 million. During the same period in the previous year, the business earned ($1.82) earnings per share.

CLMT has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on Calumet Specialty Products Partners from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, April 21st. HC Wainwright lifted their price target on Calumet Specialty Products Partners from $19.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, February 28th. TheStreet lowered Calumet Specialty Products Partners from a “c-” rating to a “d+” rating in a report on Tuesday, April 5th. StockNews.com upgraded Calumet Specialty Products Partners from a “sell” rating to a “hold” rating in a research note on Friday, May 13th. Finally, Zacks Investment Research upgraded Calumet Specialty Products Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, May 17th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Calumet Specialty Products Partners presently has a consensus rating of “Buy” and a consensus target price of $22.43.

A number of institutional investors have recently bought and sold shares of CLMT. Acadian Asset Management LLC purchased a new position in Calumet Specialty Products Partners during the fourth quarter worth about $42,000. Worth Asset Management LLC purchased a new position in Calumet Specialty Products Partners during the first quarter worth about $54,000. Covestor Ltd purchased a new position in shares of Calumet Specialty Products Partners in the 1st quarter worth about $77,000. Dorsey Wright & Associates boosted its holdings in shares of Calumet Specialty Products Partners by 15.7% in the 4th quarter. Dorsey Wright & Associates now owns 9,014 shares of the oil and gas company’s stock worth $119,000 after purchasing an additional 1,224 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Calumet Specialty Products Partners in the 4th quarter worth about $120,000. Institutional investors and hedge funds own 25.70% of the company’s stock.

Shares of NASDAQ:CLMT traded down $0.13 during mid-day trading on Tuesday, hitting $12.83. 115,573 shares of the company traded hands, compared to its average volume of 178,323. The stock has a market cap of $1.02 billion, a P/E ratio of -4.95 and a beta of 2.15. Calumet Specialty Products Partners has a 12-month low of $5.40 and a 12-month high of $17.43. The stock has a 50-day moving average price of $13.70 and a two-hundred day moving average price of $14.25.

Calumet Specialty Products Partners Company Profile (Get Rating)

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets slate of specialty branded products to various consumer-facing and industrial markets in North America and internationally. Its Specialty Products and Solutions segment offers various solvents, waxes, customized lubricating oils, white oils, petrolatums, gels, esters, and other products.

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