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:CLMTGet 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:CLMTGet 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.

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