Plains All American Pipeline (PAA) Outpaces Stock Market Gains: What You Should Know
Plains All American Pipeline (PAA) closed the most recent trading day at $14.41, moving +0.49% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.39%.
Heading into today, shares of the oil and gas transportation and storage company had gained 7.34% over the past month, outpacing the Oils-Energy sector's gain of 0.76% and the S&P 500's gain of 3.16% in that time.
Wall Street will be looking for positivity from Plains All American Pipeline as it approaches its next earnings report date. This is expected to be August 4, 2023. On that day, Plains All American Pipeline is projected to report earnings of $0.20 per share, which would represent a year-over-year decline of 33.33%. Meanwhile, our latest consensus estimate is calling for revenue of $17.93 billion, up 9.61% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.21 per share and revenue of $67.53 billion. These totals would mark changes of -3.97% and +17.77%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Plains All American Pipeline. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Plains All American Pipeline is currently a Zacks Rank #3 (Hold).
Digging into valuation, Plains All American Pipeline currently has a Forward P/E ratio of 11.87. This valuation marks a discount compared to its industry's average Forward P/E of 12.28.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% 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.
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
