Plains All American Pipeline (PAA) Rises But Trails Market: What Investors Should Know
Plains All American Pipeline (PAA) closed the most recent trading day at $15.09, moving +0.2% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.03% for the day. Elsewhere, the Dow saw an upswing of 0.87%, while the tech-heavy Nasdaq appreciated by 1.26%.
Coming into today, shares of the oil and gas transportation and storage company had lost 3.28% in the past month. In that same time, the Oils-Energy sector lost 0.19%, while the S&P 500 gained 3.01%.
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, the latest consensus estimate predicts the revenue to be $17.34 billion, indicating a 33.89% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.23 per share and a revenue of $54.19 billion, representing changes of -2.38% and -5.5%, respectively, from the prior year.
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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Plains All American Pipeline is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Plains All American Pipeline is currently trading at a Forward P/E ratio of 12.22. Its industry sports an average Forward P/E of 13.03, so 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 bearing a Zacks Industry Rank of 91, finds itself in the top 37% echelons 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.
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
