FY2029 Earnings Estimate for Calumet Issued By HC Wainwright

Calumet, Inc. (NASDAQ:CLMT) – Investment analysts at HC Wainwright dropped their FY2029 earnings per share estimates for Calumet in a research report issued to clients and investors on Monday, March 2nd. HC Wainwright analyst A. Dayal now forecasts that the oil and gas company will earn $2.48 per share for the year, down from their prior forecast of $2.49. HC Wainwright has a “Buy” rating and a $33.00 price objective on the stock. The consensus estimate for Calumet’s current full-year earnings is ($3.02) per share. HC Wainwright also issued estimates for Calumet’s FY2030 earnings at $3.57 EPS.

Other equities research analysts also recently issued research reports about the stock. UBS Group reissued a “neutral” rating and issued a $26.00 target price on shares of Calumet in a research note on Friday, February 13th. Wall Street Zen downgraded shares of Calumet from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. TD Cowen reissued a “hold” rating on shares of Calumet in a research note on Thursday, January 29th. Zacks Research upgraded Calumet from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $22.83.

Calumet Stock Up 1.8%

Shares of CLMT opened at $27.89 on Tuesday. The business has a fifty day moving average of $23.36 and a 200 day moving average of $20.19. The company has a market cap of $2.42 billion, a PE ratio of -71.51 and a beta of 1.18. Calumet has a 52-week low of $7.68 and a 52-week high of $30.35.

Calumet (NASDAQ:CLMT) last announced its earnings results on Friday, February 27th. The oil and gas company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.24. The company had revenue of ($3,098.50) million during the quarter, compared to analysts’ expectations of $1.04 billion. Calumet’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.47) EPS.

Institutional Investors Weigh In On Calumet

Institutional investors and hedge funds have recently bought and sold shares of the company. Islay Capital Management LLC bought a new position in shares of Calumet during the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd increased its position in Calumet by 294.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 1,229 shares during the period. Global Retirement Partners LLC purchased a new position in Calumet during the 4th quarter valued at about $34,000. Covestor Ltd raised its holdings in shares of Calumet by 29.1% in the 4th quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 492 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in Calumet during the second quarter valued at approximately $37,000. 34.41% of the stock is owned by institutional investors.

About Calumet

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) is an independent provider of high-value, essential product solutions derived from both petroleum and renewable feedstocks. The company operates an integrated network of manufacturing plants, blending terminals and storage facilities across North America, delivering customized products and technical services to industrial, automotive, consumer and agricultural end markets. By leveraging its scale and technical expertise, Calumet tailors supply chain and formulation solutions to meet stringent regulatory and performance requirements.

Calumet’s product portfolio includes specialty lubricants and base oils for high-performance applications; process oils and waxes for food-grade, cosmetic and packaging uses; industrial solvents and cleaning solutions; and fuel additives designed to optimize engine performance and emissions.