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

Calumet Specialty Products Partners (NASDAQ:CLMT) released its earnings results on Friday. The oil and gas company reported ($1.18) earnings per share (EPS) 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 period last year, the firm posted $0.03 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis.

Calumet Specialty Products Partners Trading Up 7.1 %

Calumet Specialty Products Partners stock traded up $1.43 on Friday, reaching $21.69. 997,177 shares of the stock were exchanged, compared to its average volume of 385,028. The stock has a market cap of $1.86 billion, a PE ratio of -65.69 and a beta of 1.90. The firm has a fifty day moving average price of $19.17 and a two-hundred day moving average price of $16.90. Calumet Specialty Products Partners has a twelve month low of $9.97 and a twelve month high of $25.29.

Wall Street Analysts Forecast Growth

CLMT has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Thursday, October 17th. TD Cowen boosted their price target on Calumet Specialty Products Partners from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company raised their price objective 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. The Goldman Sachs Group reduced 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 research note on Monday, August 5th. Finally, StockNews.com began coverage on shares of Calumet Specialty Products Partners in a research note on Wednesday, October 23rd. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Calumet Specialty Products Partners currently has a consensus 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.