Suburban Propane Partners LP (SPH) Expected to Post Earnings of -$0.48 Per Share

Equities research analysts expect Suburban Propane Partners LP (NYSE:SPH) to announce ($0.48) earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for Suburban Propane Partners’ earnings, with the highest EPS estimate coming in at ($0.45) and the lowest estimate coming in at ($0.50). Suburban Propane Partners also posted earnings of ($0.48) per share in the same quarter last year. The firm is scheduled to report its next quarterly earnings results on Thursday, August 2nd.

According to Zacks, analysts expect that Suburban Propane Partners will report full-year earnings of $1.06 per share for the current financial year, with EPS estimates ranging from $1.01 to $1.16. For the next financial year, analysts forecast that the company will report earnings of $1.56 per share, with EPS estimates ranging from $1.37 to $1.76. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Suburban Propane Partners.

Suburban Propane Partners (NYSE:SPH) last released its quarterly earnings results on Thursday, May 10th. The energy company reported $1.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.90 by ($0.17). Suburban Propane Partners had a return on equity of 10.69% and a net margin of 4.79%. The company had revenue of $536.28 million for the quarter, compared to analysts’ expectations of $544.30 million. During the same period in the prior year, the business earned $1.37 EPS. The business’s quarterly revenue was up 19.0% compared to the same quarter last year.

Several analysts have weighed in on SPH shares. JPMorgan Chase & Co. downgraded Suburban Propane Partners from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $28.00 to $26.00 in a research report on Monday, March 19th. UBS Group reiterated a “neutral” rating and issued a $27.00 price objective (down previously from $29.00) on shares of Suburban Propane Partners in a research report on Friday, March 2nd. Zacks Investment Research upgraded Suburban Propane Partners from a “sell” rating to a “hold” rating in a research report on Friday, March 2nd. Finally, TheStreet downgraded Suburban Propane Partners from a “b-” rating to a “c+” rating in a research report on Friday, March 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Suburban Propane Partners currently has a consensus rating of “Hold” and an average price target of $27.00.

In related news, COO Steven C. Boyd sold 8,500 shares of the company’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $23.51, for a total value of $199,835.00. Following the sale, the chief operating officer now directly owns 94,441 shares of the company’s stock, valued at $2,220,307.91. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Harold R. Logan, Jr. sold 4,200 shares of the company’s stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $23.47, for a total value of $98,574.00. Following the completion of the sale, the director now directly owns 17,876 shares in the company, valued at $419,549.72. The disclosure for this sale can be found here. 0.64% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. OppenheimerFunds Inc. grew its stake in Suburban Propane Partners by 8.5% in the first quarter. OppenheimerFunds Inc. now owns 4,680,417 shares of the energy company’s stock worth $103,016,000 after purchasing an additional 365,519 shares during the period. Abrams Capital Management L.P. grew its stake in shares of Suburban Propane Partners by 31.9% in the first quarter. Abrams Capital Management L.P. now owns 1,988,346 shares of the energy company’s stock worth $43,763,000 after acquiring an additional 480,806 shares during the last quarter. Atlantic Trust Group LLC grew its stake in shares of Suburban Propane Partners by 49.2% in the first quarter. Atlantic Trust Group LLC now owns 965,418 shares of the energy company’s stock worth $21,248,000 after acquiring an additional 318,392 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Suburban Propane Partners by 2.3% in the fourth quarter. Clearbridge Investments LLC now owns 723,827 shares of the energy company’s stock worth $17,531,000 after acquiring an additional 16,000 shares during the last quarter. Finally, Tricadia Capital Management LLC purchased a new stake in shares of Suburban Propane Partners in the first quarter worth $6,404,000. 28.99% of the stock is currently owned by institutional investors.

NYSE SPH opened at $23.50 on Friday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.11 and a current ratio of 1.41. Suburban Propane Partners has a 52-week low of $21.85 and a 52-week high of $27.05. The stock has a market cap of $1.44 billion, a P/E ratio of 33.57, a P/E/G ratio of 5.54 and a beta of 0.64.

Suburban Propane Partners Company Profile

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. Its Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.

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