(PAA) Advances While Market Declines: Some Information for Investors
The latest trading session saw Plains All American Pipeline (PAA) ending at $14.48, denoting a +0.49% adjustment from its last day's close. This change outpaced the S&P 500's 0.13% loss on the day. Elsewhere, the Dow saw a downswing of 0.03%, while the tech-heavy Nasdaq depreciated by 0.12%.
Heading into today, shares of the oil and gas transportation and storage company had lost 2.5% over the past month, outpacing the Oils-Energy sector's loss of 5.06% and the S&P 500's loss of 5.53% in that time.
The investment community will be closely monitoring the performance of Plains All American Pipeline in its forthcoming earnings report. The company is expected to report EPS of $0.23, down 30.3% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $15.3 billion, indicating a 6.71% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.28 per share and a revenue of $57.05 billion, representing changes of +1.59% and -0.5%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Plains All American Pipeline. 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. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Plains All American Pipeline is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Plains All American Pipeline has a Forward P/E ratio of 11.28 right now. This denotes no noticeable deviation relative to the industry's average Forward P/E of 11.28.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 195, placing it within the bottom 23% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Plains All American Pipeline, L.P. (PAA) : Free Stock Analysis Report
