HC Wainwright Has Bearish Estimate for CLMT FY2026 Earnings

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) – Equities researchers at HC Wainwright cut their FY2026 EPS estimates for shares of Calumet Specialty Products Partners in a research note issued to investors on Monday, November 11th. HC Wainwright analyst A. Dayal now forecasts that the oil and gas company will earn $1.86 per share for the year, down from their previous forecast of $1.89. HC Wainwright currently has a “Buy” rating and a $25.00 target price on the stock. The consensus estimate for Calumet Specialty Products Partners’ current full-year earnings is ($2.02) per share. HC Wainwright also issued estimates for Calumet Specialty Products Partners’ FY2027 earnings at $2.40 EPS and FY2028 earnings at $2.68 EPS.

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

Several other brokerages have also commented on CLMT. The Goldman Sachs Group cut their price target on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. TD Cowen cut their target price on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday. StockNews.com started coverage on Calumet Specialty Products Partners in a research note on Wednesday, October 23rd. They issued a “sell” rating on the stock. Finally, Wells Fargo & Company lifted their target price on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.75.

Calumet Specialty Products Partners Stock Up 3.0 %

Shares of CLMT opened at $20.49 on Wednesday. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $25.29. The company has a market cap of $1.76 billion, a PE ratio of -7.42 and a beta of 1.90. The business has a fifty day moving average of $19.50 and a 200 day moving average of $17.09.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Wasserstein Debt Opportunities Management L.P. lifted its position in Calumet Specialty Products Partners by 2.9% during the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 6,891,314 shares of the oil and gas company’s stock worth $110,606,000 after acquiring an additional 193,063 shares during the period. Raymond James & Associates lifted its holdings in shares of Calumet Specialty Products Partners by 13.4% in the 2nd quarter. Raymond James & Associates now owns 572,057 shares of the oil and gas company’s stock valued at $9,182,000 after buying an additional 67,689 shares during the period. DRW Securities LLC acquired a new stake in shares of Calumet Specialty Products Partners in the 2nd quarter valued at approximately $898,000. Creative Planning lifted its holdings in shares of Calumet Specialty Products Partners by 46.4% in the 2nd quarter. Creative Planning now owns 62,459 shares of the oil and gas company’s stock valued at $1,002,000 after buying an additional 19,800 shares during the period. Finally, Wedbush Securities Inc. acquired a new stake in shares of Calumet Specialty Products Partners in the 2nd quarter valued at approximately $169,000. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Insider Buying and Selling at Calumet Specialty Products Partners

In other news, Director Jennifer Straumins sold 100,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $20.59, for a total value of $2,059,000.00. Following the transaction, the director now owns 1,388,529 shares in the company, valued at approximately $28,589,812.11. This represents a 6.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.91% of the stock is owned by corporate insiders.

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.