Sprague Resources (SRLP) closed the most recent trading day at $15.05, moving -0.73% from the previous trading session. This move was narrower than the S&P 500's daily loss of 2.37%. At the same time, the Dow lost 1.92%, and the tech-heavy Nasdaq lost 3.02%.
Prior to today's trading, shares of the oil products and natural gas storage and distribution company had lost 1.56% over the past month. This has was narrower than the Oils-Energy sector's loss of 9.25% and the S&P 500's loss of 2.31% in that time.
Investors will be hoping for strength from SRLP as it approaches its next earnings release. The company is expected to report EPS of -$0.31, up 27.91% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $327.85 million, down 43.73% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.87 per share and revenue of $2.22 billion, which would represent changes of -20.91% and -36.72%, respectively, from the prior year.
Any recent changes to analyst estimates for SRLP should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. SRLP is currently a Zacks Rank #5 (Strong Sell).
Looking at its valuation, SRLP is holding a Forward P/E ratio of 17.42. Its industry sports an average Forward P/E of 7.97, so we one might conclude that SRLP is trading at a premium comparatively.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 30% 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.
To follow SRLP in the coming trading sessions, be sure to utilize Zacks.com.
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