Plains All American Pipeline (PAA) Dips More Than Broader Market: What You Should Know
The latest trading session saw Plains All American Pipeline (PAA) ending at $16.63, denoting a -0.54% adjustment from its last day's close. This change lagged the S&P 500's daily loss of 0.11%. Elsewhere, the Dow saw an upswing of 0.12%, while the tech-heavy Nasdaq depreciated by 0.41%.
Shares of the oil and gas transportation and storage company witnessed a gain of 8.57% over the previous month, beating the performance of the Oils-Energy sector with its gain of 3.56% and the S&P 500's gain of 2.7%.
Market participants will be closely following the financial results of Plains All American Pipeline in its upcoming release. It is anticipated that the company will report an EPS of $0.37, marking a 9.76% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $13.4 billion, reflecting an 8.6% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.24 per share and a revenue of $54.01 billion, demonstrating changes of -12.68% and +10.87%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Plains All American Pipeline. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.36% lower. Plains All American Pipeline presently features a Zacks Rank of #4 (Sell).
In the context of valuation, Plains All American Pipeline is at present trading with a Forward P/E ratio of 13.48. This denotes a premium relative to the industry's average Forward P/E of 12.31.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% 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.
To follow PAA 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
Plains All American Pipeline, L.P. (PAA) : Free Stock Analysis Report
