HC Wainwright Issues Positive Outlook for Calumet Earnings

Key Points

• HC Wainwright raised its 2026 quarterly EPS estimates and now models a return to profitability with FY2027 EPS of $1.07, reiterating a Buy rating and a $60 price target, implying substantial upside from current levels.
• The stock jumped about 12% on above‑average volume and opened at $35.90, trading above the MarketBeat consensus target of $30.17, but the street still forecasts multi‑quarter losses (consensus FY ~($3.02)), so results and commodity/margin risk could reverse gains.

Calumet, Inc. (NASDAQ:CLMT - Free Report) - Research analysts at HC Wainwright increased their Q1 2026 earnings estimates for Calumet in a research note issued on Monday, March 30th. HC Wainwright analyst A. Dayal now forecasts that the oil and gas company will earn ($0.61) per share for the quarter, up from their previous forecast of ($0.63). HC Wainwright currently has a "Buy" rating and a $60.00 target price on the stock. The consensus estimate for Calumet's current full-year earnings is ($3.02) per share. HC Wainwright also issued estimates for Calumet's Q2 2026 earnings at ($0.59) EPS, Q3 2026 earnings at ($0.26) EPS, Q4 2026 earnings at ($0.30) EPS, FY2026 earnings at ($1.76) EPS and FY2027 earnings at $1.07 EPS.

Other equities analysts have also recently issued reports about the company. Wall Street Zen cut Calumet from a "buy" rating to a "hold" rating in a report on Sunday, December 14th. The Goldman Sachs Group increased their price objective on Calumet from $24.00 to $34.00 and gave the company a "buy" rating in a research note on Thursday, March 12th. UBS Group reiterated a "neutral" rating and set a $26.00 price objective on shares of Calumet in a research report on Friday, February 13th. TD Cowen boosted their target price on shares of Calumet from $19.00 to $25.00 and gave the company a "hold" rating in a research note on Thursday, March 5th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Calumet in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $30.17.

Calumet Stock Performance

Shares of NASDAQ:CLMT opened at $35.90 on Wednesday. The business's fifty day moving average price is $27.36 and its two-hundred day moving average price is $22.12. The stock has a market cap of $3.12 billion, a PE ratio of -92.05 and a beta of 1.18. Calumet has a one year low of $7.68 and a one year high of $36.94.

Calumet (NASDAQ:CLMT - Get Free Report) last issued its quarterly earnings data on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share for the quarter, topping analysts' consensus estimates of ($0.67) by $0.24. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same period last year, the business earned ($0.47) earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Islay Capital Management LLC purchased a new stake in shares of Calumet in the fourth quarter valued at $25,000. Aster Capital Management DIFC Ltd lifted its position in Calumet by 294.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company's stock worth $33,000 after buying an additional 1,229 shares during the period. Global Retirement Partners LLC purchased a new position in Calumet during the fourth quarter worth about $34,000. Covestor Ltd boosted its stake in Calumet by 29.1% in the 4th quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company's stock worth $43,000 after buying an additional 492 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Calumet in the 3rd quarter worth about $56,000. Hedge funds and other institutional investors own 34.41% of the company's stock.

Key Stories Impacting Calumet

Here are the key news stories impacting Calumet this week:

• Positive Sentiment: HC Wainwright raised the firm's price target to $60 and reiterated a "Buy" rating, arguing improved 2026/2027 earnings prospects and implying significant upside from current levels. Benzinga
• Positive Sentiment: The analyst materially upgraded EPS forecasts across 2026 quarters (Q1 to ($0.61) from ($0.63); Q2 to ($0.59) from ($0.63); Q3 to ($0.26) from ($0.51); Q4 to ($0.30) from ($0.54)) and lifted FY2026 to ($1.76) from ($2.32). Importantly, FY2027 is now modeled at $1.07 (previously a loss), signaling a projected return to profitability that supports a higher valuation. Analyst Note Coverage
• Positive Sentiment: Market reaction: reports note a strong intraday move on above‑average volume (Zacks highlighted a ~12% jump in the prior session), indicating the upgrade and estimate revisions are being priced in by traders. Zacks
• Neutral Sentiment: Post‑surge valuation is under review: coverage (Yahoo Finance) examines whether the recent run already reflects the improved outlook, which could limit near‑term upside if multiples re‑rate quickly. Yahoo Finance
• Negative Sentiment: Risk remains: the street consensus still shows a multi‑quarter loss profile (consensus FY current year around ($3.02) EPS), so execution risk and sensitivity to oil/refining margins mean the stock could reverse if underlying results or commodity trends disappoint.

Calumet Company Profile

Calumet Specialty Products Partners, L.P. NASDAQ: CLMT is an independent provider of high-value, essential product solutions derived from both petroleum and renewable feedstocks. The company operates an integrated network of manufacturing plants, blending terminals and storage facilities across North America, delivering customized products and technical services to industrial, automotive, consumer and agricultural end markets. By leveraging its scale and technical expertise, Calumet tailors supply chain and formulation solutions to meet stringent regulatory and performance requirements.

Calumet's product portfolio includes specialty lubricants and base oils for high-performance applications; process oils and waxes for food-grade, cosmetic and packaging uses; industrial solvents and cleaning solutions; and fuel additives designed to optimize engine performance and emissions.

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