Plains All American Pipeline (PAA) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Plains All American Pipeline (PAA) closed at $15.02, marking a +1.69% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.4%. Elsewhere, the Dow gained 0.52%, while the tech-heavy Nasdaq added 10.86%.
Heading into today, shares of the oil and gas transportation and storage company had gained 11.05% over the past month, outpacing the Oils-Energy sector's gain of 3.48% and the S&P 500's gain of 3.98% in that time.
Investors will be hoping for strength from Plains All American Pipeline as it approaches its next earnings release, which is expected to be August 4, 2023. The company is expected to report EPS of $0.20, down 33.33% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $18.24 billion, up 11.48% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.19 per share and revenue of $67.99 billion. These totals would mark changes of -5.56% and +18.57%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Plains All American Pipeline. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection has moved 1.49% lower. Plains All American Pipeline is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Plains All American Pipeline currently has a Forward P/E ratio of 12.41. Its industry sports an average Forward P/E of 12.66, so we one might conclude that Plains All American Pipeline is trading at a discount comparatively.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 49, which puts it in the top 20% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Plains All American Pipeline, L.P. (PAA) : Free Stock Analysis Report
