S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01
S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01
S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01
S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Expected to Post Quarterly Sales of $825.45 Million

Last updated on Sunday, January 16, 2022 | 2022 MarketBeat

Wall Street analysts forecast that Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) will report $825.45 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Calumet Specialty Products Partners' earnings. The highest sales estimate is $833.30 million and the lowest is $817.60 million. Calumet Specialty Products Partners reported sales of $553.90 million during the same quarter last year, which indicates a positive year-over-year growth rate of 49%. The firm is scheduled to report its next earnings results on Wednesday, March 2nd.

According to Zacks, analysts expect that Calumet Specialty Products Partners will report full year sales of $3.11 billion for the current year, with estimates ranging from $3.10 billion to $3.12 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.77 billion, with estimates ranging from $3.64 billion to $3.90 billion. Zacks' sales averages are an average based on a survey of research analysts that that provide coverage for Calumet Specialty Products Partners.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its earnings results on Friday, November 5th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.79. The company had revenue of $874.90 million during the quarter, compared to analyst estimates of $864.00 million. During the same period in the previous year, the company posted ($0.49) EPS.

A number of equities research analysts have recently issued reports on CLMT shares. Cowen raised shares of Calumet Specialty Products Partners from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $12.00 to $23.00 in a research report on Tuesday, November 23rd. Credit Suisse Group started coverage on shares of Calumet Specialty Products Partners in a research report on Thursday, January 6th. They issued a "neutral" rating and a $23.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of Calumet Specialty Products Partners from $6.00 to $11.00 and gave the company a "neutral" rating in a research report on Thursday, October 14th. Wells Fargo & Company boosted their target price on shares of Calumet Specialty Products Partners from $14.00 to $27.00 and gave the company an "overweight" rating in a research report on Monday, November 22nd. Finally, Zacks Investment Research cut shares of Calumet Specialty Products Partners from a "buy" rating to a "hold" rating in a research report on Monday, January 10th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $20.71.

Shares of NASDAQ CLMT opened at $15.42 on Friday. The stock has a 50 day moving average price of $14.24 and a 200 day moving average price of $10.12. Calumet Specialty Products Partners has a 52 week low of $3.02 and a 52 week high of $17.43. The stock has a market capitalization of $1.21 billion, a PE ratio of -4.85 and a beta of 2.51.

Several institutional investors have recently bought and sold shares of the business. Future Financial Wealth Managment LLC purchased a new stake in Calumet Specialty Products Partners in the 4th quarter valued at about $120,000. J.W. Cole Advisors Inc. purchased a new stake in Calumet Specialty Products Partners during the 3rd quarter valued at about $85,000. Advisor Resource Council purchased a new stake in Calumet Specialty Products Partners during the 2nd quarter valued at about $83,000. Ameritas Investment Company LLC purchased a new stake in Calumet Specialty Products Partners during the 2nd quarter valued at about $103,000. Finally, SG3 Management LLC purchased a new stake in Calumet Specialty Products Partners during the 2nd quarter valued at about $161,000. Hedge funds and other institutional investors own 32.05% of the company's stock.

About Calumet Specialty Products Partners

Calumet Specialty Products Partners LP engages in the production of specialty hydrocarbon products. It operates through the following segments: Specialty Products, Fuel Products and Corporate. The Specialty Products segment produces lubricating oils, solvents, waxes, synthetic lubricants and other products.

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