Calumet Specialty Products Partners (CLMT) Expected to Announce Earnings of -$0.45 Per Share

Equities research analysts forecast that Calumet Specialty Products Partners (NASDAQ:CLMT) will announce ($0.45) earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Calumet Specialty Products Partners’ earnings, with the highest EPS estimate coming in at ($0.39) and the lowest estimate coming in at ($0.58). Calumet Specialty Products Partners posted earnings of ($0.08) per share in the same quarter last year, which would indicate a negative year over year growth rate of 462.5%. The firm is scheduled to issue its next earnings results on Thursday, May 3rd.

According to Zacks, analysts expect that Calumet Specialty Products Partners will report full-year earnings of ($0.57) per share for the current financial year, with EPS estimates ranging from ($0.65) to ($0.42). For the next year, analysts anticipate that the company will post earnings of ($0.16) per share, with EPS estimates ranging from ($0.40) to $0.17. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Calumet Specialty Products Partners.

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Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings data on Thursday, March 8th. The oil and gas company reported ($0.39) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.55) by $0.16. Calumet Specialty Products Partners had a negative net margin of 2.14% and a negative return on equity of 29.30%. The firm had revenue of $883.80 million for the quarter, compared to the consensus estimate of $716.80 million.

A number of brokerages recently commented on CLMT. BidaskClub raised shares of Calumet Specialty Products Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Zacks Investment Research downgraded shares of Calumet Specialty Products Partners from a “hold” rating to a “sell” rating in a research report on Monday, January 15th. Finally, ValuEngine downgraded shares of Calumet Specialty Products Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, March 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $8.19.

Shares of CLMT opened at $7.10 on Friday. Calumet Specialty Products Partners has a 52 week low of $3.45 and a 52 week high of $9.95. The company has a market cap of $553.72, a P/E ratio of -12.68 and a beta of 1.14. The company has a current ratio of 1.29, a quick ratio of 0.95 and a debt-to-equity ratio of 15.44.

A number of hedge funds have recently bought and sold shares of the business. LPL Financial LLC grew its position in Calumet Specialty Products Partners by 14.7% in the fourth quarter. LPL Financial LLC now owns 111,354 shares of the oil and gas company’s stock worth $857,000 after acquiring an additional 14,310 shares in the last quarter. Raymond James & Associates lifted its stake in shares of Calumet Specialty Products Partners by 23.0% in the fourth quarter. Raymond James & Associates now owns 38,153 shares of the oil and gas company’s stock worth $294,000 after buying an additional 7,146 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Calumet Specialty Products Partners by 55.6% in the fourth quarter. Deutsche Bank AG now owns 801,758 shares of the oil and gas company’s stock worth $6,173,000 after buying an additional 286,558 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Calumet Specialty Products Partners by 10.8% in the fourth quarter. Geode Capital Management LLC now owns 72,082 shares of the oil and gas company’s stock worth $555,000 after buying an additional 7,050 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Calumet Specialty Products Partners during the 4th quarter valued at $178,000. 14.20% of the stock is owned by institutional investors.

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About Calumet Specialty Products Partners

Calumet Specialty Products Partners, L.P. produces and sells specialty hydrocarbon products in North America and internationally. It operates in two segments, Specialty Products and Fuel Products. The Specialty Products segment offers various lubricating oils, white mineral oils, solvents, petrolatums, waxes, synthetic lubricants, and other products which are used primarily as raw material components for basic automotive, industrial, and consumer goods.

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