Equinor (EQNR) closed the most recent trading day at $34.76, moving -0.34% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.88%. At the same time, the Dow lost 0.82%, and the tech-heavy Nasdaq gained 0.08%.
Heading into today, shares of the oil and gas company had lost 5.53% over the past month, outpacing the Oils-Energy sector's loss of 14.09% and the S&P 500's loss of 8.06% in that time.
Wall Street will be looking for positivity from Equinor as it approaches its next earnings report date. On that day, Equinor is projected to report earnings of $1.24 per share, which would represent year-over-year growth of 153.06%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.56 per share and revenue of $201.08 billion, which would represent changes of +80.52% and +124.76%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Equinor. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Equinor is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Equinor has a Forward P/E ratio of 6.27 right now. This valuation marks a discount compared to its industry's average Forward P/E of 8.67.
Investors should also note that EQNR has a PEG ratio of 0.13 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Refining and Marketing was holding an average PEG ratio of 0.58 at yesterday's closing price.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 16, which puts it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow EQNR in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Equinor ASA (EQNR) : Free Stock Analysis Report
To read this article on Zacks.com click here.