EnLink Midstream (ENLC) Dips More Than Broader Markets: What You Should Know
EnLink Midstream (ENLC) closed at $12.05 in the latest trading session, marking a -1.47% move from the prior day. This move lagged the S&P 500's daily loss of 1.2%. Elsewhere, the Dow lost 1.1%, while the tech-heavy Nasdaq lost 2.86%.
Coming into today, shares of the natural gas company had lost 2.55% in the past month. In that same time, the Oils-Energy sector lost 3.14%, while the S&P 500 lost 4.77%.
EnLink Midstream will be looking to display strength as it nears its next earnings release. On that day, EnLink Midstream is projected to report earnings of $0.18 per share, which would represent year-over-year growth of 63.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.83 billion, up 26.23% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.60 per share and revenue of $10.32 billion. These totals would mark changes of +1100% and +54.41%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for EnLink Midstream. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. EnLink Midstream is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, EnLink Midstream is holding a Forward P/E ratio of 20.38. This valuation marks a premium compared to its industry's average Forward P/E of 5.36.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 37, which puts it in the top 15% 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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EnLink Midstream, LLC (ENLC) : Free Stock Analysis Report
