Plains All American Pipeline (PAA) Increases Despite Market Slip: Here's What You Need to Know
Plains All American Pipeline (PAA) closed the most recent trading day at $15.50, moving +0.98% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.15%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, added 0.09%.
Prior to today's trading, shares of the oil and gas transportation and storage company had gained 3.51% over the past month. This has outpaced the Oils-Energy sector's gain of 2.64% and the S&P 500's gain of 3.5% in that time.
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 per share (EPS) are projected to be $0.37, reflecting a 12.12% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $17.34 billion, up 33.89% from the prior-year quarter.
Any recent changes to analyst estimates for Plains All American Pipeline should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.53% increase. Currently, Plains All American Pipeline is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Plains All American Pipeline currently has a Forward P/E ratio of 11.84. This signifies a discount in comparison to the average Forward P/E of 12.14 for its industry.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 172, positioning it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Plains All American Pipeline, L.P. (PAA) : Free Stock Analysis Report
