Brokerages expect that Suburban Propane Partners LP (NYSE:SPH) will announce $528.12 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Suburban Propane Partners’ earnings. The lowest sales estimate is $518.63 million and the highest is $537.60 million. Suburban Propane Partners posted sales of $450.58 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 17.2%. The business is scheduled to report its next earnings results on Thursday, May 3rd.
On average, analysts expect that Suburban Propane Partners will report full year sales of $1.33 billion for the current fiscal year, with estimates ranging from $1.32 billion to $1.35 billion. For the next financial year, analysts forecast that the firm will report sales of $1.35 billion per share, with estimates ranging from $1.33 billion to $1.39 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Suburban Propane Partners.
Suburban Propane Partners (NYSE:SPH) last posted its quarterly earnings results on Thursday, February 8th. The energy company reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.28). The firm had revenue of $373.00 million for the quarter, compared to analysts’ expectations of $422.16 million. Suburban Propane Partners had a net margin of 3.27% and a return on equity of 6.57%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 EPS.
Several equities analysts have recently issued reports on the company. UBS raised Suburban Propane Partners from a “market perform” rating to an “outperform” rating in a report on Friday, February 9th. TheStreet raised Suburban Propane Partners from a “c” rating to a “b-” rating in a report on Friday, February 9th. Raymond James Financial raised Suburban Propane Partners from a “market perform” rating to an “outperform” rating and set a $28.00 price objective for the company in a report on Friday, February 9th. Zacks Investment Research raised Suburban Propane Partners from a “sell” rating to a “hold” rating in a report on Friday, March 2nd. Finally, JPMorgan Chase cut Suburban Propane Partners from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $28.00 to $26.00 in a report on Monday, March 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $27.00.
Shares of SPH stock traded up $0.07 on Friday, hitting $22.36. The company had a trading volume of 109,328 shares, compared to its average volume of 254,564. The stock has a market cap of $1,377.67, a PE ratio of 31.94, a price-to-earnings-growth ratio of 3.71 and a beta of 0.64. The company has a quick ratio of 0.77, a current ratio of 1.05 and a debt-to-equity ratio of 2.37. Suburban Propane Partners has a twelve month low of $21.85 and a twelve month high of $27.27.
In other news, Director Harold R. Logan, Jr. sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $24.33, for a total value of $97,320.00. Following the completion of the transaction, the director now owns 21,641 shares of the company’s stock, valued at approximately $526,525.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.64% of the company’s stock.
Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Suburban Propane Partners by 42.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,060,051 shares of the energy company’s stock worth $27,455,000 after purchasing an additional 314,973 shares during the period. California Public Employees Retirement System raised its holdings in Suburban Propane Partners by 6.1% in the 3rd quarter. California Public Employees Retirement System now owns 95,216 shares of the energy company’s stock worth $2,484,000 after purchasing an additional 5,516 shares during the period. Atlantic Trust Group LLC raised its holdings in Suburban Propane Partners by 13.4% in the 3rd quarter. Atlantic Trust Group LLC now owns 243,153 shares of the energy company’s stock worth $6,344,000 after purchasing an additional 28,800 shares during the period. Bank of Montreal Can raised its holdings in Suburban Propane Partners by 37.6% in the 4th quarter. Bank of Montreal Can now owns 290,255 shares of the energy company’s stock worth $7,030,000 after purchasing an additional 79,345 shares during the period. Finally, MHI Funds LLC acquired a new position in Suburban Propane Partners in the 4th quarter worth about $259,000. 28.14% of the stock is owned by institutional investors and hedge funds.
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Suburban Propane Partners Company Profile
Suburban Propane Partners, L.P. is a marketer and distributor of a range of products. The Company specializes in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets. The Company’s segments include Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.
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