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

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

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GLP stock traded down $0.38 during trading on Friday, reaching $19.95. 133,860 shares of the stock were exchanged, compared to its average volume of 77,422. The firm’s 50 day moving average is $20.06 and its 200 day moving average is $19.87. Global Partners has a twelve month low of $13.63 and a twelve month high of $21.62. 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 firm has a market cap of $691.02 million, a P/E ratio of 11.53 and a beta of 0.90.

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

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

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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