Plains All American Pipeline (PAA) Flat As Market Gains: What You Should Know
In the latest trading session, Plains All American Pipeline (PAA) closed at $15.50, marking no change from the previous day. This change lagged the S&P 500's 0.57% gain on the day. At the same time, the Dow added 0.46%, and the tech-heavy Nasdaq gained 0.75%.
Coming into today, shares of the oil and gas transportation and storage company had gained 6.31% in the past month. In that same time, the Oils-Energy sector gained 1.25%, while the S&P 500 gained 3.4%.
Analysts and investors alike will be keeping a close eye on the performance of Plains All American Pipeline in its upcoming earnings disclosure. The company's earnings report is set to go public on February 9, 2024. The company is predicted to post an EPS of $0.37, indicating a 12.12% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $17.34 billion, indicating a 33.89% upward movement from the same quarter last year.
Investors should also note any recent changes to analyst estimates for Plains All American Pipeline. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.53% higher within the past month. Right now, Plains All American Pipeline possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Plains All American Pipeline is currently exchanging hands at a Forward P/E ratio of 11.96. This represents a discount compared to its industry's average Forward P/E of 12.16.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 204, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Plains All American Pipeline, L.P. (PAA) : Free Stock Analysis Report
