(PAA) Rises As Market Takes a Dip: Key Facts
Plains All American Pipeline (PAA) closed the latest trading day at $15.25, indicating a +0.79% change from the previous session's end. This change outpaced the S&P 500's 0.63% loss on the day. At the same time, the Dow lost 0.51%, and the tech-heavy Nasdaq lost 0.63%.
The oil and gas transportation and storage company's shares have seen an increase of 0.93% over the last month, surpassing the Oils-Energy sector's loss of 1.37% and the S&P 500's loss of 2.35%.
Market participants will be closely following the financial results of Plains All American Pipeline in its upcoming release. The company plans to announce its earnings on November 3, 2023. The company's upcoming EPS is projected at $0.23, signifying a 30.3% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.3 billion, up 6.71% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.28 per share and revenue of $57.05 billion, which would represent 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 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. 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Plains All American Pipeline boasts a Zacks Rank of #3 (Hold).
Investors should also note Plains All American Pipeline's current valuation metrics, including its Forward P/E ratio of 11.84. This indicates a discount in contrast to its industry's Forward P/E of 12.03.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Plains All American Pipeline, L.P. (PAA) : Free Stock Analysis Report
