What is HC Wainwright’s Forecast for CLMT FY2029 Earnings?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) – Equities research analysts at HC Wainwright issued their FY2029 earnings estimates for shares of Calumet Specialty Products Partners in a research note issued to investors on Monday, January 13th. HC Wainwright analyst A. Dayal forecasts that the oil and gas company will earn $3.58 per share for the year. HC Wainwright has a “Buy” rating and a $33.00 price objective on the stock. The consensus estimate for Calumet Specialty Products Partners’ current full-year earnings is ($2.87) per share.

CLMT has been the topic of a number of other reports. StockNews.com raised Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. TD Cowen lowered their target price on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Finally, Wells Fargo & Company raised their price objective 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 investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.75.

Calumet Specialty Products Partners Stock Performance

CLMT opened at $18.93 on Wednesday. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $25.29. The stock has a market capitalization of $1.63 billion, a P/E ratio of -6.86 and a beta of 1.90. The company’s 50-day simple moving average is $21.39 and its two-hundred day simple moving average is $18.77.

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

Institutional Trading of Calumet Specialty Products Partners

Large investors have recently modified their holdings of the stock. Founders Financial Alliance LLC increased its holdings in shares of Calumet Specialty Products Partners by 8.4% in the 2nd quarter. Founders Financial Alliance LLC now owns 48,400 shares of the oil and gas company’s stock valued at $777,000 after acquiring an additional 3,750 shares during the last quarter. Creative Planning boosted its holdings in 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 purchasing an additional 19,800 shares in the last quarter. Finally, DRW Securities LLC purchased a new position in shares of Calumet Specialty Products Partners in the 2nd quarter valued at about $898,000. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Insider Transactions at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.42, for a total value of $810,982.62. Following the transaction, the director now directly owns 1,184,589 shares in the company, valued at $25,373,896.38. The trade was a 3.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.91% of the company’s stock.

About Calumet Specialty Products Partners

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.