HC Wainwright Has Pessimistic Outlook of Calumet Q3 Earnings

Key Points

• HC Wainwright has significantly downgraded its earnings per share (EPS) estimates for Calumet, predicting a loss of $0.57 per share for Q3 2025, compared to an earlier forecast of $0.27.
• Calumet reported Q2 earnings of ($1.70) per share, falling short of analysts' consensus estimate of ($0.44), while the company’s revenue decreased by 9.4% year-over-year.
• Despite recent downgrades, analysts maintain a mixed outlook on Calumet, with a consensus rating of "Hold" and a varied target price range from $13.25 to $21.00.

Calumet, Inc. (NASDAQ:CLMT - Free Report) - Analysts at HC Wainwright dropped their Q3 2025 earnings per share (EPS) estimates for shares of Calumet in a research note issued to investors on Monday, August 11th. HC Wainwright analyst A. Dayal now anticipates that the oil and gas company will post earnings of ($0.57) per share for the quarter, down from their prior forecast of ($0.27). The consensus estimate for Calumet's current full-year earnings is ($3.02) per share. HC Wainwright also issued estimates for Calumet's Q4 2025 earnings at ($0.58) EPS, FY2025 earnings at ($3.89) EPS, FY2026 earnings at ($1.49) EPS, FY2027 earnings at ($0.01) EPS and FY2028 earnings at $1.09 EPS.

Calumet (NASDAQ:CLMT - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The oil and gas company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.44) by ($1.26). The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $982.88 million. During the same period in the prior year, the company earned ($0.48) EPS. Calumet's revenue for the quarter was down 9.4% on a year-over-year basis.

A number of other research analysts have also issued reports on the company. Wells Fargo & Company reduced their price objective on Calumet from $23.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. The Goldman Sachs Group cut their target price on Calumet from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Bank of America started coverage on Calumet in a research note on Tuesday, May 13th. They set a "buy" rating and a $15.00 target price on the stock. Finally, UBS Group set a $13.25 target price on Calumet and gave the company a "neutral" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $18.71.

Calumet Price Performance

NASDAQ:CLMT opened at $14.14 on Wednesday. Calumet has a 12-month low of $7.68 and a 12-month high of $25.29. The firm has a market capitalization of $1.22 billion, a P/E ratio of -2.71 and a beta of 0.91. The business has a 50 day simple moving average of $15.69 and a 200 day simple moving average of $13.96.

Institutional Trading of Calumet

A number of hedge funds and other institutional investors have recently modified their holdings of CLMT. Geode Capital Management LLC raised its stake in shares of Calumet by 112.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,704,670 shares of the oil and gas company's stock worth $26,860,000 after buying an additional 901,933 shares in the last quarter. Wasserstein Debt Opportunities Management L.P. raised its position in shares of Calumet by 3.2% during the second quarter. Wasserstein Debt Opportunities Management L.P. now owns 5,817,012 shares of the oil and gas company's stock worth $91,647,000 after purchasing an additional 180,197 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Calumet by 33.5% during the first quarter. Goldman Sachs Group Inc. now owns 465,269 shares of the oil and gas company's stock worth $5,900,000 after purchasing an additional 116,777 shares during the period. Rhumbline Advisers acquired a new stake in shares of Calumet during the second quarter worth $1,610,000. Finally, Adams Asset Advisors LLC raised its position in shares of Calumet by 0.9% during the second quarter. Adams Asset Advisors LLC now owns 5,406,271 shares of the oil and gas company's stock worth $85,176,000 after purchasing an additional 49,948 shares during the period. Institutional investors own 34.41% of the company's stock.

Insiders Place Their Bets

In other news, SVP Gregory J. Morical sold 25,123 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $16.69, for a total value of $419,302.87. Following the sale, the senior vice president owned 39,415 shares of the company's stock, valued at approximately $657,836.35. The trade was a 38.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jennifer Straumins sold 100,000 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $16.23, for a total value of $1,623,000.00. Following the completion of the sale, the director directly owned 934,589 shares in the company, valued at $15,168,379.47. This represents a 9.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 275,123 shares of company stock worth $4,113,303 in the last three months. Company insiders own 4.07% of the company's stock.

About Calumet

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.

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