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

Calumet Specialty Products Partners (NASDAQ:CLMT) posted its quarterly earnings results 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 company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $888.36 million. During the same quarter in the previous year, the business posted $0.03 EPS. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year.

Calumet Specialty Products Partners Price Performance

CLMT stock opened at $22.24 on Monday. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -8.06 and a beta of 1.90. The company has a 50 day simple moving average of $19.26 and a 200 day simple moving average of $16.96. Calumet Specialty Products Partners has a 1 year low of $9.97 and a 1 year high of $25.29.

Analysts Set New Price Targets

CLMT has been the topic of several research analyst reports. TD Cowen increased their price objective on shares of Calumet Specialty Products Partners from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. The Goldman Sachs Group decreased their price objective on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, August 5th. HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Thursday, October 17th. Wells Fargo & Company raised 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 report on Monday, October 21st. Finally, StockNews.com began coverage on shares of Calumet Specialty Products Partners in a report on Wednesday, October 23rd. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, Calumet Specialty Products Partners has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Calumet Specialty Products Partners Company Profile

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.