Brokers Set Expectations for CLMT FY2029 Earnings

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) – Stock analysts at HC Wainwright issued their FY2029 earnings per share (EPS) estimates for shares of Calumet Specialty Products Partners in a research report issued to clients and investors on Monday, January 13th. HC Wainwright analyst A. Dayal expects that the oil and gas company will post earnings of $3.58 per share for the year. HC Wainwright has a “Buy” rating and a $33.00 price objective on the stock. The consensus estimate for Calumet Specialty Products Partners’ current full-year earnings is ($2.87) per share.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its quarterly earnings data on Friday, November 8th. The oil and gas company reported ($1.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.59). The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $888.36 million. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 EPS.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company boosted their price target on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. StockNews.com raised Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. Finally, TD Cowen reduced their price target on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.75.

Calumet Specialty Products Partners Stock Down 0.2 %

Shares of NASDAQ CLMT opened at $18.93 on Wednesday. Calumet Specialty Products Partners has a fifty-two week low of $9.97 and a fifty-two week high of $25.29. The stock has a market cap of $1.63 billion, a P/E ratio of -6.86 and a beta of 1.90. The firm’s 50-day simple moving average is $21.39 and its 200 day simple moving average is $18.77.

Insider Activity

In other news, Director Jennifer Straumins sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $20.59, for a total value of $2,059,000.00. Following the transaction, the director now directly owns 1,388,529 shares of the company’s stock, valued at $28,589,812.11. The trade was a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.91% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Founders Financial Alliance LLC increased its stake in shares of Calumet Specialty Products Partners by 8.4% in the second quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock valued at $777,000 after buying an additional 3,750 shares during the period. DRW Securities LLC bought a new stake in Calumet Specialty Products Partners in the second quarter valued at $898,000. Finally, Creative Planning raised its stake in Calumet Specialty Products Partners by 46.4% during the 2nd quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock worth $1,002,000 after buying an additional 19,800 shares during the period. Institutional investors own 34.41% of the company’s stock.

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.