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Eni SpA (E) Gains As Market Dips: What You Should Know

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Eni SpA (E) closed the most recent trading day at $22.31, moving +0.68% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.45%. At the same time, the Dow lost 0.67%, and the tech-heavy Nasdaq lost 0.06%.

Coming into today, shares of the energy company had lost 18.47% in the past month. In that same time, the Oils-Energy sector lost 18.41%, while the S&P 500 lost 1.89%.

Wall Street will be looking for positivity from Eni SpA as it approaches its next earnings report date. In that report, analysts expect Eni SpA to post earnings of $1.85 per share. This would mark year-over-year growth of 218.97%.

E's full-year Zacks Consensus Estimates are calling for earnings of $7.22 per share and revenue of $239.69 billion. These results would represent year-over-year changes of +134.42% and +163%, respectively.

It is also important to note the recent changes to analyst estimates for Eni SpA. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 7.44% higher within the past month. Eni SpA currently has a Zacks Rank of #3 (Hold).

Looking at its valuation, Eni SpA is holding a Forward P/E ratio of 3.07. Its industry sports an average Forward P/E of 4.11, so we one might conclude that Eni SpA is trading at a discount comparatively.

Also, we should mention that E has a PEG ratio of 0.3. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.41 based on yesterday's closing prices.

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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