Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Expected to Post Quarterly Sales of $870.80 Million

Equities analysts expect Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT – Get Rating) to report sales of $870.80 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Calumet Specialty Products Partners’ earnings. The lowest sales estimate is $856.70 million and the highest is $884.90 million. Calumet Specialty Products Partners posted sales of $600.30 million during the same quarter last year, which suggests a positive year-over-year growth rate of 45.1%. The firm is expected to report its next quarterly earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Calumet Specialty Products Partners will report full year sales of $3.54 billion for the current year, with estimates ranging from $3.45 billion to $3.64 billion. For the next financial year, analysts forecast that the company will post sales of $4.14 billion, with estimates ranging from $3.99 billion to $4.28 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Calumet Specialty Products Partners.

Calumet Specialty Products Partners (NASDAQ:CLMT – Get Rating) last posted its earnings results on Friday, February 25th. The oil and gas company reported ($1.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.73). The firm had revenue of $865.80 million during the quarter, compared to the consensus estimate of $810.85 million. During the same period in the previous year, the business earned ($1.03) earnings per share.

Several equities analysts have weighed in on CLMT shares. Wells Fargo & Company lifted their price objective on shares of Calumet Specialty Products Partners from $27.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, April 21st. Credit Suisse Group began coverage on Calumet Specialty Products Partners in a research report on Thursday, January 6th. They set a “neutral” rating and a $23.00 target price for the company. Zacks Investment Research raised Calumet Specialty Products Partners from a “sell” rating to a “hold” rating in a research report on Wednesday. Cowen dropped their price objective on shares of Calumet Specialty Products Partners from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday, February 28th. Finally, StockNews.com cut Calumet Specialty Products Partners from a “hold” rating to a “sell” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.86.

Several institutional investors and hedge funds have recently modified their holdings of the company. Knott David M boosted its holdings in shares of Calumet Specialty Products Partners by 13.1% during the 3rd quarter. Knott David M now owns 3,567,500 shares of the oil and gas company’s stock worth $28,219,000 after buying an additional 414,200 shares during the period. Barclays PLC lifted its holdings in shares of Calumet Specialty Products Partners by 16,848.0% during the third quarter. Barclays PLC now owns 137,109 shares of the oil and gas company’s stock worth $1,085,000 after buying an additional 136,300 shares in the last quarter. Adams Asset Advisors LLC grew its stake in shares of Calumet Specialty Products Partners by 1.4% in the fourth quarter. Adams Asset Advisors LLC now owns 5,222,003 shares of the oil and gas company’s stock valued at $68,930,000 after acquiring an additional 72,785 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Calumet Specialty Products Partners by 39.5% during the third quarter. Raymond James & Associates now owns 211,061 shares of the oil and gas company’s stock worth $1,669,000 after purchasing an additional 59,809 shares during the period. Finally, Bank of Montreal Can acquired a new position in Calumet Specialty Products Partners in the fourth quarter valued at about $760,000. 31.49% of the stock is currently owned by institutional investors.

CLMT opened at $15.25 on Friday. Calumet Specialty Products Partners has a one year low of $5.27 and a one year high of $17.43. The stock’s fifty day moving average is $14.13 and its 200-day moving average is $13.87. The company has a market capitalization of $1.20 billion, a PE ratio of -4.72 and a beta of 2.33.

About Calumet Specialty Products Partners (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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