Equities research analysts predict that Global Partners LP (NYSE:GLP) will announce $3.36 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Global Partners’ earnings. The lowest sales estimate is $3.32 billion and the highest is $3.41 billion. Global Partners reported sales of $3.47 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.2%. The company is expected to announce its next quarterly earnings report on Thursday, November 14th.

According to Zacks, analysts expect that Global Partners will report full year sales of $13.25 billion for the current financial year, with estimates ranging from $13.10 billion to $13.39 billion. For the next financial year, analysts forecast that the business will post sales of $13.03 billion, with estimates ranging from $10.36 billion to $14.58 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Global Partners.

Global Partners (NYSE:GLP) last released its quarterly earnings data on Thursday, August 8th. The energy company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.28. The firm had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $2.98 billion. Global Partners had a net margin of 0.45% and a return on equity of 14.37%.

A number of research firms recently commented on GLP. ValuEngine downgraded shares of Global Partners from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 4th. Zacks Investment Research downgraded shares of Global Partners from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a report on Wednesday, October 9th.

GLP stock opened at $20.64 on Monday. The company has a market cap of $691.80 million, a P/E ratio of 11.93 and a beta of 0.89. Global Partners has a 52 week low of $13.63 and a 52 week high of $21.62. The company’s 50-day moving average price is $19.53 and its 200 day moving average price is $19.76. The company has a current ratio of 1.33, a quick ratio of 0.72 and a debt-to-equity ratio of 3.55.

A number of hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new stake in Global Partners during the 1st quarter worth $99,000. Moors & Cabot Inc. increased its stake in Global Partners by 82.8% in the second quarter. Moors & Cabot Inc. now owns 20,089 shares of the energy company’s stock valued at $401,000 after purchasing an additional 9,101 shares during the period. Commonwealth Equity Services LLC increased its stake in Global Partners by 4.1% in the second quarter. Commonwealth Equity Services LLC now owns 23,612 shares of the energy company’s stock valued at $470,000 after purchasing an additional 923 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in Global Partners by 7.5% in the second quarter. Kayne Anderson Capital Advisors LP now owns 2,343,759 shares of the energy company’s stock valued at $46,659,000 after purchasing an additional 164,000 shares during the period. Finally, Advantage Investment Management LLC acquired a new position in Global Partners in the second quarter valued at $286,000. 38.12% of the stock is currently owned by hedge funds and other institutional investors.

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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