Equinor (EQNR) closed the most recent trading day at $34.29, moving +0.53% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.84%. At the same time, the Dow lost 0.36%, and the tech-heavy Nasdaq lost 0.19%.
Prior to today's trading, shares of the oil and gas company had lost 18.67% over the past month. This has lagged the Oils-Energy sector's loss of 4.09% and the S&P 500's loss of 10.24% in that time.
Investors will be hoping for strength from Equinor as it approaches its next earnings release. The company is expected to report EPS of $1.38, up 62.35% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $57.68 billion, up 147.93% from the year-ago period.
EQNR's full-year Zacks Consensus Estimates are calling for earnings of $6.31 per share and revenue of $203.84 billion. These results would represent year-over-year changes of +104.87% and +127.85%, respectively.
Investors might also notice recent changes to analyst estimates for Equinor. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Equinor is currently a Zacks Rank #3 (Hold).
Investors should also note Equinor's current valuation metrics, including its Forward P/E ratio of 5.4. This valuation marks a premium compared to its industry's average Forward P/E of 5.34.
It is also worth noting that EQNR currently has a PEG ratio of 1.07. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 0.44 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 10, which puts it in the top 4% 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.
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