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

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

Shares of NYSE GLP traded down $0.38 during mid-day trading on Friday, reaching $19.95. The company had a trading volume of 133,860 shares, compared to its average volume of 77,422. The business’s 50-day moving average is $20.06 and its 200-day moving average is $19.87. The company has a current ratio of 1.33, a quick ratio of 0.72 and a debt-to-equity ratio of 3.55. The stock has a market cap of $691.02 million, a price-to-earnings ratio of 11.53 and a beta of 0.90. Global Partners has a 52 week low of $13.63 and a 52 week high of $21.62.

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

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

About Global Partners

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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