Plains All American Pipeline (PAA) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest trading session, Plains All American Pipeline (PAA) closed at $15.65, marking a -0.82% move from the previous day. This change lagged the S&P 500's 0.37% loss on the day. At the same time, the Dow lost 0.62%, and the tech-heavy Nasdaq lost 0.19%.
The oil and gas transportation and storage company's stock has climbed by 5.27% in the past month, exceeding the Oils-Energy sector's loss of 0.52% and the S&P 500's gain of 1.56%.
The investment community will be closely monitoring the performance of Plains All American Pipeline in its forthcoming earnings report. The company is scheduled to release its earnings on February 9, 2024. It is anticipated that the company will report an EPS of $0.37, marking a 12.12% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $18.35 billion, up 41.65% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Plains All American Pipeline. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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.
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, there's been a 0.46% fall in the Zacks Consensus EPS estimate. At present, Plains All American Pipeline boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Plains All American Pipeline is at present trading with a Forward P/E ratio of 12.23. This signifies a discount in comparison to the average Forward P/E of 12.26 for its industry.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 107, putting it in the top 43% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Plains All American Pipeline, L.P. (PAA) : Free Stock Analysis Report
