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

Calumet Specialty Products Partners (NASDAQ:CLMT) posted its earnings results on Friday. The oil and gas company reported ($1.18) EPS for the quarter, missing the consensus estimate 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 period last year, the firm posted $0.03 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year.

Calumet Specialty Products Partners Stock Performance

Shares of Calumet Specialty Products Partners stock opened at $22.24 on Friday. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $25.29. The company has a fifty day moving average of $19.26 and a 200-day moving average of $16.95. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -8.06 and a beta of 1.90.

Analysts Set New Price Targets

CLMT has been the subject of several recent analyst reports. StockNews.com began coverage on Calumet Specialty Products Partners in a report on Wednesday, October 23rd. They set a “sell” rating for the company. Wells Fargo & Company boosted 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. The Goldman Sachs Group decreased their price target on shares of 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 reaffirmed a “buy” rating and set a $25.00 price objective on shares of Calumet Specialty Products Partners in a report on Thursday, October 17th. Finally, TD Cowen increased their target price 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. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently 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.