Galp Energia SGPS (OTCMKTS:GLPEY) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Galp Energia SGPS from “hold” to “strong buy,” while the broader analyst consensus remains “moderate buy.”
• Galp reported quarterly earnings of $0.60 per share, beating estimates of $0.34, and revenue of $8.02 billion, exceeding the $6.79 billion forecast.
• GLPEY opened at $12.58, with a $17.08 billion market capitalization, a 10.67 P/E ratio, and a 52-week trading range of $8.10 to $13.09.

Galp Energia SGPS (OTCMKTS:GLPEY - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Monday, Zacks reports.

Several other equities analysts have also issued reports on GLPEY. HSBC reissued a "hold" rating on shares of Galp Energia SGPS in a report on Friday, September 25th. Morgan Stanley reaffirmed an "overweight" rating on shares of Galp Energia SGPS in a research report on Friday, September 4th. Barclays reiterated an "overweight" rating on shares of Galp Energia SGPS in a report on Monday, October 5th. Finally, Citigroup reiterated a "neutral" rating on shares of Galp Energia SGPS in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Galp Energia SGPS presently has a consensus rating of "Moderate Buy".

Galp Energia SGPS Stock Performance

GLPEY stock opened at $12.58 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.53 and a quick ratio of 1.20. The business has a 50-day moving average price of $12.28 and a 200 day moving average price of $11.59. The company has a market capitalization of $17.08 billion and a P/E ratio of 10.67. Galp Energia SGPS has a 1-year low of $8.10 and a 1-year high of $13.09.

Galp Energia SGPS (OTCMKTS:GLPEY - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The energy company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.26. Galp Energia SGPS had a net margin of 5.43% and a return on equity of 30.13%. The company had revenue of $8.02 billion during the quarter, compared to analyst estimates of $6.79 billion. As a group, equities research analysts forecast that Galp Energia SGPS will post 1.44 EPS for the current fiscal year.

Galp Energia SGPS Company Profile

Galp Energia SGPS, SA is a Portugal-based integrated energy company whose activities span oil and natural gas exploration and production, energy trading, refining, marketing, and renewable power generation. The company supplies fuels, natural gas, electricity, lubricants, and other energy products to retail, commercial, and industrial customers.

Galp's upstream portfolio includes interests in oil and natural gas projects, with a significant presence in Brazil and additional activities in other international markets.

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