Equities research analysts expect Genesis Energy, L.P. (NYSE:GEL) to announce earnings per share (EPS) of $0.19 for the current quarter, Zacks reports. Three analysts have provided estimates for Genesis Energy’s earnings, with estimates ranging from $0.15 to $0.25. Genesis Energy reported earnings of $0.22 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 13.6%. The business is scheduled to announce its next earnings results on Friday, November 2nd.
According to Zacks, analysts expect that Genesis Energy will report full year earnings of $0.33 per share for the current financial year, with EPS estimates ranging from $0.17 to $0.64. For the next financial year, analysts forecast that the business will report earnings of $0.95 per share, with EPS estimates ranging from $0.76 to $1.22. Zacks’ EPS averages are a mean average based on a survey of analysts that cover Genesis Energy.
Genesis Energy (NYSE:GEL) last posted its quarterly earnings data on Wednesday, August 8th. The pipeline company reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.22). Genesis Energy had a net margin of 1.52% and a return on equity of 7.32%. The company had revenue of $752.39 million for the quarter, compared to the consensus estimate of $729.72 million. During the same period last year, the business earned $0.28 EPS. The firm’s quarterly revenue was up 85.0% on a year-over-year basis.
A number of analysts have commented on GEL shares. UBS Group lifted their target price on Genesis Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. Raymond James reissued a “buy” rating on shares of Genesis Energy in a report on Monday, August 13th. Barclays raised their price target on Genesis Energy from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 11th. Zacks Investment Research upgraded Genesis Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, July 16th. Finally, ValuEngine upgraded Genesis Energy from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.50.
GEL stock opened at $24.72 on Friday. Genesis Energy has a twelve month low of $18.42 and a twelve month high of $26.53. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.50 and a quick ratio of 1.26. The company has a market cap of $2.91 billion, a P/E ratio of 23.32 and a beta of 1.24.
In related news, VP Garland G. Gaspard acquired 1,247 shares of Genesis Energy stock in a transaction on Wednesday, September 5th. The shares were bought at an average cost of $24.07 per share, with a total value of $30,015.29. Following the completion of the purchase, the vice president now directly owns 1,247 shares of the company’s stock, valued at approximately $30,015.29. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in GEL. Baldwin Brothers Inc. MA bought a new position in shares of Genesis Energy during the second quarter valued at approximately $193,000. GWM Advisors LLC bought a new position in shares of Genesis Energy during the second quarter valued at approximately $212,000. Summit Trail Advisors LLC grew its stake in shares of Genesis Energy by 1,717.8% during the first quarter. Summit Trail Advisors LLC now owns 215,952 shares of the pipeline company’s stock valued at $216,000 after buying an additional 204,072 shares during the last quarter. Horrell Capital Management Inc. bought a new position in shares of Genesis Energy during the second quarter valued at approximately $219,000. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Genesis Energy by 380.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 11,825 shares of the pipeline company’s stock valued at $259,000 after buying an additional 9,366 shares during the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.
Genesis Energy Company Profile
Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep-water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.
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