Wall Street brokerages expect that Green Plains Partners LP (NASDAQ:GPP) will report $28.85 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Green Plains Partners’ earnings, with estimates ranging from $27.41 million to $31.7 million. Green Plains Partners posted sales of $23.79 million in the same quarter last year, which suggests a positive year-over-year growth rate of 21.3%. The firm is expected to issue its next quarterly earnings report after the market closes on Monday, May 1st.
According to Zacks, analysts expect that Green Plains Partners will report full year sales of $28.85 million for the current fiscal year, with estimates ranging from $114.51 million to $126.1 million. For the next fiscal year, analysts forecast that the business will report sales of $128.01 million per share, with estimates ranging from $121.25 million to $136.7 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Green Plains Partners.
Green Plains Partners (NASDAQ:GPP) last announced its quarterly earnings data on Wednesday, February 8th. The transportation company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. Green Plains Partners had a net margin of 54.74% and a negative return on equity of 348.14%. The business earned $28.30 million during the quarter, compared to the consensus estimate of $29.08 million. The company’s quarterly revenue was up 24.7% on a year-over-year basis.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised Green Plains Partners from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Friday, January 6th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Green Plains Partners in a research note on Friday, March 24th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $21.50.
In other news, CEO Todd A. Becker acquired 5,000 shares of the stock in a transaction dated Thursday, March 9th. The stock was bought at an average price of $19.96 per share, with a total value of $99,800.00. Following the completion of the purchase, the chief executive officer now directly owns 62,556 shares of the company’s stock, valued at approximately $1,248,617.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Hedge funds have recently added to or reduced their stakes in the stock. Walnut Private Equity Partners LLC purchased a new stake in Green Plains Partners during the first quarter worth $402,000. Guggenheim Capital LLC increased its stake in Green Plains Partners by 9.6% in the fourth quarter. Guggenheim Capital LLC now owns 67,940 shares of the transportation company’s stock worth $1,345,000 after buying an additional 5,945 shares in the last quarter. GSA Capital Partners LLP increased its stake in Green Plains Partners by 75.8% in the fourth quarter. GSA Capital Partners LLP now owns 72,402 shares of the transportation company’s stock worth $1,434,000 after buying an additional 31,210 shares in the last quarter. Mondrian Investment Partners LTD purchased a new stake in Green Plains Partners during the first quarter worth $1,741,000. Finally, Renaissance Technologies LLC increased its stake in Green Plains Partners by 29.6% in the fourth quarter. Renaissance Technologies LLC now owns 127,884 shares of the transportation company’s stock worth $2,532,000 after buying an additional 29,197 shares in the last quarter. 48.29% of the stock is owned by institutional investors and hedge funds.
Green Plains Partners (NASDAQ:GPP) remained flat at $20.10 on Friday. The stock had a trading volume of 43,938 shares. The stock’s 50-day moving average is $19.92 and its 200-day moving average is $19.57. The company has a market capitalization of $639.18 million, a PE ratio of 11.48 and a beta of 1.00. Green Plains Partners has a 12 month low of $13.40 and a 12 month high of $21.75.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, May 5th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, May 3rd. This represents a $1.76 annualized dividend and a dividend yield of 8.76%. This is an increase from Green Plains Partners’s previous quarterly dividend of $0.43. Green Plains Partners’s dividend payout ratio is currently 98.29%.
Green Plains Partners Company Profile
Green Plains Partners LP provides fuel storage and transportation services. The Company owns, operates, develops and acquires ethanol and fuel storage facilities, terminals, transportation assets, and other related assets and businesses. The Company’s parent company is Green Plains Inc (Green Plains).
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