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In the latest trading session, Sunoco LP (SUN) closed at $39.07, marking a +1.82% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.13%. At the same time, the Dow added 0.28%, and the tech-heavy Nasdaq lost 0.04%.
Prior to today's trading, shares of the master limited partnership had gained 2.87% over the past month. This has outpaced the Oils-Energy sector's loss of 1.62% and lagged the S&P 500's gain of 5.55% in that time.
Wall Street will be looking for positivity from Sunoco LP as it approaches its next earnings report date. This is expected to be August 3, 2022. The company is expected to report EPS of $1.14, down 34.1% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.47 billion, up 47.36% from the prior-year quarter.
SUN's full-year Zacks Consensus Estimates are calling for earnings of $6.44 per share and revenue of $26.83 billion. These results would represent year-over-year changes of +21.97% and +52.5%, respectively.
Investors might also notice recent changes to analyst estimates for Sunoco LP. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 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. The Zacks Consensus EPS estimate has moved 3.3% lower within the past month. Sunoco LP is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Sunoco LP's current valuation metrics, including its Forward P/E ratio of 5.96. This represents a discount compared to its industry's average Forward P/E of 7.82.
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 56, putting it in the top 23% 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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