Analysts Expect Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Will Post Earnings of -$0.13 Per Share

Equities research analysts expect Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT – Get Rating) to report earnings of ($0.13) per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Calumet Specialty Products Partners’ earnings, with estimates ranging from ($0.64) to $0.17. Calumet Specialty Products Partners posted earnings of ($0.97) per share during the same quarter last year, which indicates a positive year over year growth rate of 86.6%. The firm is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that Calumet Specialty Products Partners will report full year earnings of ($1.43) per share for the current year, with EPS estimates ranging from ($1.81) to ($1.24). For the next year, analysts expect that the company will post earnings of $1.36 per share, with EPS estimates ranging from $1.22 to $1.52. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Calumet Specialty Products Partners.

Calumet Specialty Products Partners (NASDAQ:CLMT – Get Rating) last released its quarterly earnings results on Friday, May 6th. The oil and gas company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.31). The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $870.80 million. During the same period in the previous year, the business earned ($1.82) EPS.

Several brokerages recently commented on CLMT. StockNews.com upgraded shares of Calumet Specialty Products Partners from a “sell” rating to a “hold” rating in a report on Friday, May 13th. Wells Fargo & Company increased their target price on shares of Calumet Specialty Products Partners from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, April 21st. Cowen increased their target price on shares of Calumet Specialty Products Partners from $18.00 to $20.00 in a report on Monday, May 9th. HC Wainwright increased their target price on shares of Calumet Specialty Products Partners from $19.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, February 28th. Finally, Zacks Investment Research upgraded shares of Calumet Specialty Products Partners from a “sell” rating to a “hold” rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $22.43.

Shares of CLMT opened at $12.88 on Tuesday. Calumet Specialty Products Partners has a 12 month low of $5.40 and a 12 month high of $17.43. The firm has a fifty day simple moving average of $13.78 and a 200 day simple moving average of $14.16.

A number of hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC bought a new position in shares of Calumet Specialty Products Partners in the fourth quarter valued at about $42,000. Worth Asset Management LLC bought a new position in shares of Calumet Specialty Products Partners in the first quarter valued at about $54,000. Covestor Ltd bought a new position in shares of Calumet Specialty Products Partners in the first quarter valued at about $77,000. Dorsey Wright & Associates raised its position in shares of Calumet Specialty Products Partners by 15.7% in the fourth quarter. Dorsey Wright & Associates now owns 9,014 shares of the oil and gas company’s stock valued at $119,000 after purchasing an additional 1,224 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Calumet Specialty Products Partners in the fourth quarter valued at about $120,000. Hedge funds and other institutional investors own 25.70% of the company’s stock.

Calumet Specialty Products Partners Company Profile (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.

Read More