Sunoco LP (SUN) Stock Sinks As Market Gains: What You Should Know
Sunoco LP (SUN) closed the most recent trading day at $43.56, moving -0.23% from the previous trading session. This change lagged the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.84%, and the Nasdaq, a tech-heavy index, lost 2.24%.
Coming into today, shares of the master limited partnership had gained 1.68% in the past month. In that same time, the Oils-Energy sector gained 3.61%, while the S&P 500 gained 4.67%.
Sunoco LP will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.02, down 15% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.8 billion, down 25.74% from the year-ago period.
SUN's full-year Zacks Consensus Estimates are calling for earnings of $4.10 per share and revenue of $23.03 billion. These results would represent year-over-year changes of -12.39% and -10.49%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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, the Zacks Consensus EPS estimate has moved 2.63% higher. Sunoco LP is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Sunoco LP has a Forward P/E ratio of 10.66 right now. This represents a no noticeable deviation compared to its industry's average Forward P/E of 10.66.
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 61, putting it in the top 25% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Sunoco LP (SUN) : Free Stock Analysis Report
