What is HC Wainwright’s Forecast for CLMT FY2029 Earnings?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) – Stock analysts at HC Wainwright issued their FY2029 earnings per share estimates for shares of Calumet Specialty Products Partners in a note issued to investors on Monday, January 13th. HC Wainwright analyst A. Dayal expects that the oil and gas company will post earnings per share of $3.58 for the year. HC Wainwright currently has a “Buy” rating and a $33.00 price target on the stock. The consensus estimate for Calumet Specialty Products Partners’ current full-year earnings is ($2.87) per share.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.59). The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $888.36 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The business’s quarterly revenue was down 4.3% on a year-over-year basis.

Several other research analysts also recently commented on the company. Wells Fargo & Company lifted their price objective on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. TD Cowen lowered their price objective on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Finally, StockNews.com upgraded shares of Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.75.

Calumet Specialty Products Partners Stock Down 4.1 %

Calumet Specialty Products Partners stock opened at $18.16 on Wednesday. The firm has a fifty day simple moving average of $21.37 and a two-hundred day simple moving average of $18.77. Calumet Specialty Products Partners has a twelve month low of $9.97 and a twelve month high of $25.29. The company has a market capitalization of $1.56 billion, a PE ratio of -6.58 and a beta of 1.90.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Several institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning raised its stake in Calumet Specialty Products Partners by 46.4% in the second quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock worth $1,002,000 after buying an additional 19,800 shares in the last quarter. Founders Financial Alliance LLC boosted its position in Calumet Specialty Products Partners by 8.4% during the 2nd quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock valued at $777,000 after acquiring an additional 3,750 shares in the last quarter. Finally, DRW Securities LLC purchased a new position in shares of Calumet Specialty Products Partners during the 2nd quarter worth approximately $898,000. 34.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 100,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $20.59, for a total transaction of $2,059,000.00. Following the transaction, the director now directly owns 1,388,529 shares of the company’s stock, valued at approximately $28,589,812.11. The trade was a 6.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.91% of the stock is owned by company insiders.

Calumet Specialty Products Partners Company Profile

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.