Calumet Specialty Products Partners (NASDAQ:CLMT) Issues Earnings Results, Misses Estimates By $0.59 EPS

Calumet Specialty Products Partners (NASDAQ:CLMT) posted its earnings results on Friday. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.59), RTT News reports. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $888.36 million. During the same period last year, the business posted $0.03 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year.

Calumet Specialty Products Partners Trading Up 3.8 %

NASDAQ:CLMT traded up $0.76 during mid-day trading on Friday, hitting $21.02. The stock had a trading volume of 906,749 shares, compared to its average volume of 384,611. Calumet Specialty Products Partners has a twelve month low of $9.97 and a twelve month high of $25.29. The stock has a 50-day simple moving average of $19.17 and a two-hundred day simple moving average of $16.90. The company has a market capitalization of $1.81 billion, a PE ratio of -60.25 and a beta of 1.90.

Wall Street Analysts Forecast Growth

CLMT has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on Calumet Specialty Products Partners in a research report on Wednesday, October 23rd. They set a “sell” rating for the company. Wells Fargo & Company lifted their price target on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. HC Wainwright restated a “buy” rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Thursday, October 17th. The Goldman Sachs Group dropped their target price on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, August 5th. Finally, TD Cowen upped their price target on Calumet Specialty Products Partners from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.00.

About Calumet Specialty Products Partners

Calumet, Inc manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Montana/Renewables; and Performance brands segments.