What is HC Wainwright's Forecast for CLMT FY2029 Earnings?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Free Report) - Investment analysts at HC Wainwright dropped their FY2029 earnings per share estimates for Calumet Specialty Products Partners in a report released on Monday, May 12th. HC Wainwright analyst A. Dayal now expects that the oil and gas company will post earnings of $2.49 per share for the year, down from their previous forecast of $2.58. HC Wainwright has a "Buy" rating and a $33.00 price target on the stock. The consensus estimate for Calumet Specialty Products Partners' current full-year earnings is ($3.02) per share.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The oil and gas company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.62). The business had revenue of $993.90 million for the quarter, compared to analysts' expectations of $899.62 million. The company's quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.51) EPS.

Other analysts have also recently issued research reports about the company. TD Cowen cut Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and reduced their price objective for the company from $26.00 to $16.00 in a research report on Tuesday, March 4th. UBS Group upgraded shares of Calumet Specialty Products Partners from a "sell" rating to a "neutral" rating and decreased their price target for the company from $15.00 to $12.00 in a report on Monday, March 17th. Bank of America began coverage on Calumet Specialty Products Partners in a research report on Tuesday. They set a "buy" rating and a $15.00 price objective for the company. The Goldman Sachs Group reduced their price objective on Calumet Specialty Products Partners from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company reduced their price target on shares of Calumet Specialty Products Partners from $23.00 to $21.00 and set an "overweight" rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Calumet Specialty Products Partners currently has an average rating of "Hold" and a consensus target price of $18.50.

Calumet Specialty Products Partners Stock Up 2.1%

Shares of CLMT traded up $0.28 during trading hours on Tuesday, reaching $13.73. The company's stock had a trading volume of 800,525 shares, compared to its average volume of 891,665. The company has a 50 day moving average of $11.31 and a two-hundred day moving average of $16.40. Calumet Specialty Products Partners has a 1-year low of $7.68 and a 1-year high of $25.29. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -4.97 and a beta of 0.89.

Insider Activity at Calumet Specialty Products Partners

In related news, CFO David Lunin acquired 2,500 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $13.05 per share, for a total transaction of $32,625.00. Following the transaction, the chief financial officer now directly owns 2,500 shares of the company's stock, valued at approximately $32,625. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen P. Mawer sold 3,655 shares of the stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $9.29, for a total value of $33,954.95. Following the completion of the transaction, the director now owns 283,652 shares in the company, valued at $2,635,127.08. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.91% of the stock is currently owned by insiders.

Calumet Specialty Products Partners Company Profile

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.