Plains All American Pipeline (PAA) Stock Moves -0.14%: What You Should Know
In the latest trading session, Plains All American Pipeline (PAA) closed at $14.76, marking a -0.14% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.32%. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq lost 0.89%.
Prior to today's trading, shares of the oil and gas transportation and storage company had lost 1.73% over the past month. This has lagged the Oils-Energy sector's gain of 4.35% and the S&P 500's loss of 0.12% in that time.
Wall Street will be looking for positivity from Plains All American Pipeline as it approaches its next earnings report date. On that day, Plains All American Pipeline is projected to report earnings of $0.23 per share, which would represent a year-over-year decline of 30.3%. Meanwhile, our latest consensus estimate is calling for revenue of $15.3 billion, up 6.71% from the prior-year quarter.
PAA's full-year Zacks Consensus Estimates are calling for earnings of $1.28 per share and revenue of $57.05 billion. These results would represent year-over-year changes of +1.59% and -0.5%, respectively.
Investors might also notice recent changes to analyst estimates for Plains All American Pipeline. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 3.02% higher within the past month. Plains All American Pipeline is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Plains All American Pipeline has a Forward P/E ratio of 11.57 right now. Its industry sports an average Forward P/E of 12.06, 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 group has a Zacks Industry Rank of 163, putting it in the bottom 36% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Plains All American Pipeline, L.P. (PAA) : Free Stock Analysis Report
