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Calumet Specialty Products Partners L.P. (NASDAQ: CLMT) Stock: Boom Or Bust? What Happens Next?

During the recent session, Calumet Specialty Products Partners L.P. (NASDAQ:CLMT)’s traded shares were 0.74 million, with the beta value of the company hitting 2.20. At the last check today, the stock’s price was $16.25, reflecting an intraday gain of 23.48% or $3.09. The 52-week high for the CLMT share is $17.43, that puts it down -7.26 from that peak though still a striking 66.77% gain since the share price plummeted to a 52-week low of $5.40. The company’s market capitalization is $966.34M, and the average intraday trading volume over the past 10 days was 0.13 million shares, and the average trade volume was 134.08K shares over the past three months.

Calumet Specialty Products Partners L.P. (CLMT) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.30. CLMT has a Sell rating from 0 analyst(s) out of 7 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.27.

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Calumet Specialty Products Partners L.P. (NASDAQ:CLMT) trade information

Calumet Specialty Products Partners L.P. (CLMT) registered a 23.48% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 23.48% in intraday trading to $16.25 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 12.57%, and it has moved by 52.31% in 30 days. Based on these gigs, the overall price performance for the year is 97.89%. The short interest in Calumet Specialty Products Partners L.P. (NASDAQ:CLMT) is 0.46 million shares and it means that shorts have 2.4 day(s) to cover.

The consensus price target of analysts on Wall Street is $24.00, which implies an increase of 32.29% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $14.00 and $30.00 respectively. As a result, CLMT is trading at a discount of -84.62% off the target high and 13.85% off the low.

Calumet Specialty Products Partners L.P. (CLMT) estimates and forecasts

Statistics show that Calumet Specialty Products Partners L.P. has outperformed its competitors in share price, compared to the industry in which it operates. Calumet Specialty Products Partners L.P. (CLMT) shares have gone down -7.19% during the last six months, with a year-to-date growth rate more than the industry average at 76.16% against 50.10. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 127.80% this quarter and then drop -87.50% in the quarter after that. In the rating firms’ projections, revenue will increase 41.10% compared to the previous financial year.

Revenue for the current quarter is expected to be $1.18 billion as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $1.07 billion by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 3.00%. While earnings are projected to return -73.20% in 2022, the next five years will return 10.00% per annum.

CLMT Dividends

Calumet Specialty Products Partners L.P. is due to release its next quarterly earnings between March 01 and March 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Calumet Specialty Products Partners L.P. (NASDAQ:CLMT)’s Major holders

Calumet Specialty Products Partners L.P. insiders own 21.60% of total outstanding shares while institutional holders control 26.92%, with the float percentage being 34.33%. Adams Asset Advisors, LLC is the largest shareholder of the company, while 70 institutions own stock in it. As of Jun 29, 2022, the company held over 5.43 million shares (or 6.86% of all shares), a total value of $56.43 million in shares.

The next largest institutional holding, with 4.39 million shares, is of Knott David M., Jr.’s that is approximately 5.55% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $59.78 million.

Also, the Mutual Funds coming in first place with the largest holdings of Calumet Specialty Products Partners L.P. (CLMT) shares are Evermore Global Value Fd and Fidelity Advisor Multi-Asset Income Fund. Data provided on Mar 30, 2022 indicates that Evermore Global Value Fd owns about 1.67 million shares. This amounts to just over 2.11 percent of the company’s overall shares, with a $22.76 million market value. The same data shows that the other fund manager holds slightly less at 0.47 million, or about 0.60% of the stock, which is worth about $6.59 million.

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