Calumet Specialty Products Partners (NASDAQ:CLMT) Issues Quarterly Earnings Results

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

Calumet Specialty Products Partners Stock Performance

Calumet Specialty Products Partners stock traded up $0.76 during mid-day trading on Friday, reaching $21.02. 906,749 shares of the company were exchanged, compared to its average volume of 384,611. The firm has a market cap of $1.81 billion, a PE ratio of -60.25 and a beta of 1.90. The firm’s 50-day simple moving average is $19.17 and its two-hundred day simple moving average is $16.90. Calumet Specialty Products Partners has a twelve month low of $9.97 and a twelve month high of $25.29.

Analysts Set New Price Targets

Several equities research analysts recently commented on CLMT shares. Wells Fargo & Company lifted 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 note on Monday, October 21st. StockNews.com assumed coverage on Calumet Specialty Products Partners in a research report on Wednesday, October 23rd. They set a “sell” rating on the stock. The Goldman Sachs Group decreased their target price on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, August 5th. TD Cowen lifted their price target on Calumet Specialty Products Partners from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, 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.