HC Wainwright Issues Pessimistic Forecast for CLMT Earnings

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) – Stock analysts at HC Wainwright dropped their FY2029 earnings per share estimates for Calumet Specialty Products Partners in a research note issued on Monday, May 12th. HC Wainwright analyst A. Dayal now anticipates that the oil and gas company will post earnings per share of $2.49 for the year, down from their previous estimate of $2.58. HC Wainwright currently has a “Buy” rating and a $33.00 target price on the stock. The consensus estimate for Calumet Specialty Products Partners’ current full-year earnings is ($3.02) per share.

Other equities research analysts have also recently issued research reports about the stock. Bank of America initiated coverage on shares of Calumet Specialty Products Partners in a research note on Tuesday. They issued a “buy” rating and a $15.00 target price for the company. Wells Fargo & Company cut their price target on shares of Calumet Specialty Products Partners from $28.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. UBS Group upgraded shares of Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and cut their price target for the stock from $15.00 to $12.00 in a research note on Monday, March 17th. The Goldman Sachs Group cut their price target on shares of Calumet Specialty Products Partners from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Finally, TD Cowen cut shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and cut their price target for the stock from $26.00 to $16.00 in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.83.

Calumet Specialty Products Partners Stock Performance

NASDAQ CLMT opened at $14.00 on Tuesday. The firm has a 50-day simple moving average of $11.23 and a 200 day simple moving average of $16.47. Calumet Specialty Products Partners has a twelve month low of $7.68 and a twelve month high of $25.29. The stock has a market cap of $1.21 billion, a PE ratio of -5.07 and a beta of 0.89.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its earnings results on Friday, May 9th. The oil and gas company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.62). The company had revenue of $993.90 million for the quarter, compared to analyst estimates of $899.62 million. During the same period in the previous year, the firm posted ($0.51) EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year.

Insider Activity

In other news, Director Stephen P. Mawer sold 3,655 shares of Calumet Specialty Products Partners stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $9.29, for a total value of $33,954.95. Following the completion of the transaction, the director now owns 283,652 shares in the company, valued at approximately $2,635,127.08. The trade was a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David Lunin purchased 2,500 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $13.05 per share, with a total value of $32,625.00. Following the acquisition, the chief financial officer now owns 2,500 shares of the company’s stock, valued at $32,625. This represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.91% of the stock is currently owned by corporate insiders.

Calumet Specialty Products Partners Company Profile

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.