Calumet Specialty Products Partners, L.P (CLMT) Expected to Announce Quarterly Sales of $685.18 Million

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Equities analysts expect Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) to announce $685.18 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Calumet Specialty Products Partners, L.P’s earnings, with estimates ranging from $665.36 million to $705.00 million. Calumet Specialty Products Partners, L.P posted sales of $883.80 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 22.5%. The business is scheduled to issue its next earnings results on Thursday, December 27th.

On average, analysts expect that Calumet Specialty Products Partners, L.P will report full year sales of $3.18 billion for the current financial year, with estimates ranging from $3.11 billion to $3.24 billion. For the next fiscal year, analysts forecast that the firm will post sales of $2.98 billion, with estimates ranging from $2.80 billion to $3.15 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Calumet Specialty Products Partners, L.P.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last issued its earnings results on Thursday, August 9th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.01. Calumet Specialty Products Partners, L.P had a negative net margin of 3.94% and a negative return on equity of 45.02%. The company had revenue of $945.50 million for the quarter, compared to analysts’ expectations of $829.99 million.

Several research analysts have issued reports on CLMT shares. BidaskClub cut shares of Calumet Specialty Products Partners, L.P from a “sell” rating to a “strong sell” rating in a report on Friday, October 12th. Zacks Investment Research upgraded shares of Calumet Specialty Products Partners, L.P from a “hold” rating to a “strong-buy” rating and set a $8.75 target price on the stock in a report on Friday, July 27th. Finally, ValuEngine upgraded shares of Calumet Specialty Products Partners, L.P from a “sell” rating to a “hold” rating in a report on Saturday, October 27th.

In other Calumet Specialty Products Partners, L.P news, CFO David West Griffin bought 10,599 shares of the company’s stock in a transaction on Friday, September 7th. The shares were bought at an average cost of $6.36 per share, for a total transaction of $67,409.64. Following the acquisition, the chief financial officer now directly owns 78,905 shares in the company, valued at $501,835.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have acquired 41,205 shares of company stock worth $269,925. 4.75% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Eqis Capital Management Inc. bought a new stake in shares of Calumet Specialty Products Partners, L.P in the 2nd quarter valued at about $118,000. Stratos Wealth Partners LTD. bought a new stake in shares of Calumet Specialty Products Partners, L.P in the 3rd quarter valued at about $148,000. OppenheimerFunds Inc. bought a new stake in shares of Calumet Specialty Products Partners, L.P in the 2nd quarter valued at about $298,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Calumet Specialty Products Partners, L.P by 87.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 43,000 shares of the oil and gas company’s stock valued at $320,000 after buying an additional 20,000 shares in the last quarter. Finally, Creative Planning boosted its holdings in shares of Calumet Specialty Products Partners, L.P by 199.3% in the 3rd quarter. Creative Planning now owns 55,565 shares of the oil and gas company’s stock valued at $356,000 after buying an additional 37,000 shares in the last quarter. Institutional investors and hedge funds own 14.00% of the company’s stock.

Calumet Specialty Products Partners, L.P stock traded down $0.81 during midday trading on Wednesday, hitting $3.86. 928,443 shares of the company’s stock were exchanged, compared to its average volume of 317,729. The company has a debt-to-equity ratio of 29.68, a current ratio of 1.45 and a quick ratio of 0.75. Calumet Specialty Products Partners, L.P has a 12 month low of $3.79 and a 12 month high of $9.90. The stock has a market cap of $370.08 million, a price-to-earnings ratio of -6.88 and a beta of 1.54.

About Calumet Specialty Products Partners, L.P

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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