$71.35 Million in Sales Expected for GasLog Partners LP (GLOP) This Quarter
Analysts expect GasLog Partners LP (NYSE:GLOP) to post $71.35 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for GasLog Partners’ earnings, with estimates ranging from $70.20 million to $72.80 million. GasLog Partners reported sales of $51.45 million during the same quarter last year, which would suggest a positive year over year growth rate of 38.7%. The firm is expected to issue its next quarterly earnings report before the market opens on Thursday, October 26th.
On average, analysts expect that GasLog Partners will report full year sales of $71.35 million for the current financial year, with estimates ranging from $260.17 million to $266.00 million. For the next year, analysts forecast that the business will post sales of $300.73 million per share, with estimates ranging from $269.42 million to $356.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for GasLog Partners.
GasLog Partners (NYSE:GLOP) last released its quarterly earnings results on Thursday, July 27th. The shipping company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.11). GasLog Partners had a return on equity of 12.06% and a net margin of 35.43%. The firm had revenue of $65.27 million for the quarter, compared to analysts’ expectations of $61.86 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis.
Several research firms have recently weighed in on GLOP. Zacks Investment Research raised GasLog Partners from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Thursday. ValuEngine cut GasLog Partners from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 27th. Jefferies Group LLC reissued a “buy” rating and set a $28.00 target price on shares of GasLog Partners in a research report on Tuesday, July 4th. BidaskClub raised shares of GasLog Partners from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Finally, Morgan Stanley upgraded shares of GasLog Partners from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $23.50 to $26.00 in a report on Tuesday, June 13th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $26.00.
Several institutional investors and hedge funds have recently modified their holdings of GLOP. Castleark Management LLC purchased a new stake in shares of GasLog Partners in the second quarter worth about $2,134,000. The Manufacturers Life Insurance Company grew its stake in shares of GasLog Partners by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 5,813 shares of the shipping company’s stock valued at $132,000 after buying an additional 323 shares in the last quarter. Moors & Cabot Inc. grew its stake in shares of GasLog Partners by 19.4% in the second quarter. Moors & Cabot Inc. now owns 11,482 shares of the shipping company’s stock valued at $259,000 after buying an additional 1,868 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of GasLog Partners by 22.3% in the second quarter. Cubist Systematic Strategies LLC now owns 12,935 shares of the shipping company’s stock valued at $293,000 after buying an additional 2,362 shares in the last quarter. Finally, People s United Financial Inc. acquired a new stake in shares of GasLog Partners in the second quarter valued at about $227,000. Institutional investors own 39.84% of the company’s stock.
Shares of GasLog Partners (NYSE:GLOP) opened at 23.05 on Monday. The firm has a market capitalization of $909.65 million, a PE ratio of 11.55 and a beta of 1.67. The stock has a 50 day moving average price of $23.01 and a 200-day moving average price of $23.40. GasLog Partners has a 52 week low of $19.10 and a 52 week high of $25.45.
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About GasLog Partners
GasLog Partners LP is a limited partnership company. The Company focuses on owning, operating and acquiring liquefied natural gas (LNG) carriers under multi-year charters. The Company’s fleet consists of 9 LNG carriers with an average carrying capacity of approximately 149,500 cubic meters (cbm), each of which has a multi-year time charter.
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