CrossAmerica Partners (NYSE:CAPL) Posts Earnings Results, Beats Estimates By $0.02 EPS

CrossAmerica Partners (NYSE:CAPL) released its quarterly earnings results on Wednesday. The oil and gas company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02, Zacks reports. CrossAmerica Partners had a negative return on equity of 150.01% and a net margin of 0.50%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business posted $0.31 earnings per share.

CrossAmerica Partners Price Performance

Shares of CrossAmerica Partners stock traded down $0.60 during trading on Friday, hitting $19.69. The stock had a trading volume of 50,240 shares, compared to its average volume of 26,168. The stock has a market cap of $749.15 million, a PE ratio of 37.87 and a beta of 1.50. CrossAmerica Partners has a 12 month low of $18.43 and a 12 month high of $24.19. The firm’s fifty day simple moving average is $20.93 and its 200-day simple moving average is $20.50.

CrossAmerica Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Monday, November 4th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 10.67%. The ex-dividend date is Monday, November 4th. CrossAmerica Partners’s dividend payout ratio is currently 403.85%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a report on Wednesday.

About CrossAmerica Partners

CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, operation of convenience stores, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. It operates in two segments, Wholesale and Retail. The Wholesale segment engages in the wholesale distribution of motor fuels to lessee dealers, independent dealers, commission agents, and company operated retail sites.