Plains All American Pipeline (PAA) Flat As Market Gains: What You Should Know
Plains All American Pipeline (PAA) closed at $14.51 in the latest trading session, marking no change from the prior day. This change lagged the S&P 500's 0.67% gain on the day. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 9.29%.
Prior to today's trading, shares of the oil and gas transportation and storage company had gained 10.09% over the past month. This has outpaced the Oils-Energy sector's loss of 0.7% and the S&P 500's gain of 2.65% in that time.
Plains All American Pipeline will be looking to display strength as it nears its next earnings release, which is expected to be August 4, 2023. The company is expected to report EPS of $0.21, down 30% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $17.93 billion, up 9.61% from the year-ago period.
PAA's full-year Zacks Consensus Estimates are calling for earnings of $1.21 per share and revenue of $67.53 billion. These results would represent year-over-year changes of -3.97% and +17.77%, respectively.
Any recent changes to analyst estimates for Plains All American Pipeline should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Plains All American Pipeline is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Plains All American Pipeline is currently trading at a Forward P/E ratio of 12.01. This valuation marks a discount compared to its industry's average Forward P/E of 12.23.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 43% 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 PAA in the coming trading sessions, be sure to utilize Zacks.com.
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Plains All American Pipeline, L.P. (PAA) : Free Stock Analysis Report
