-$0.07 EPS Expected for Sprague Resources LP (SRLP) This Quarter

Equities research analysts expect that Sprague Resources LP (NYSE:SRLP) will post ($0.07) earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have issued estimates for Sprague Resources’ earnings. The lowest EPS estimate is ($0.12) and the highest is ($0.02). Sprague Resources reported earnings per share of ($0.68) in the same quarter last year, which would suggest a positive year over year growth rate of 89.7%. The company is scheduled to announce its next earnings report on Tuesday, November 6th.

On average, analysts expect that Sprague Resources will report full-year earnings of $3.57 per share for the current year. For the next financial year, analysts expect that the business will post earnings of $2.16 per share, with EPS estimates ranging from $1.80 to $2.51. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Sprague Resources.

Sprague Resources (NYSE:SRLP) last issued its earnings results on Wednesday, August 8th. The oil and gas company reported ($0.67) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by ($0.15). The firm had revenue of $741.66 million during the quarter, compared to analysts’ expectations of $678.35 million. Sprague Resources had a return on equity of 19.91% and a net margin of 0.91%.

Several brokerages have issued reports on SRLP. ValuEngine raised Sprague Resources from a “hold” rating to a “buy” rating in a research note on Wednesday. TheStreet raised Sprague Resources from a “c+” rating to a “b” rating in a research note on Tuesday, July 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.00.

Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC purchased a new stake in Sprague Resources in the second quarter worth approximately $101,000. UBS Group AG boosted its stake in Sprague Resources by 32.9% in the first quarter. UBS Group AG now owns 8,637 shares of the oil and gas company’s stock worth $206,000 after buying an additional 2,137 shares in the last quarter. Nwam LLC bought a new stake in Sprague Resources in the second quarter valued at approximately $292,000. Jane Street Group LLC bought a new stake in Sprague Resources in the second quarter valued at approximately $414,000. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in Sprague Resources by 19.2% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 16,794 shares of the oil and gas company’s stock valued at $427,000 after purchasing an additional 2,700 shares during the last quarter. 20.63% of the stock is owned by institutional investors and hedge funds.

SRLP traded up $0.05 during midday trading on Friday, hitting $27.85. The stock had a trading volume of 309,825 shares, compared to its average volume of 24,974. The firm has a market cap of $626.97 million, a P/E ratio of 24.65 and a beta of 1.33. Sprague Resources has a 1 year low of $21.80 and a 1 year high of $29.00.

Sprague Resources Company Profile

Sprague Resources LP engages in the purchase, storage, distribution, and sale of refined petroleum products and natural gas in the United States. The company operates through four segments: Refined Products, Natural Gas, Materials Handling, and Other Operations. The Refined Products segment purchases and sells various refined products, such as heating oil, diesel fuel, residual fuel oil, kerosene, jet fuel, gasoline, and asphalt to wholesale, retail, and commercial customers.

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