Why the Market Dipped But Plains All American Pipeline (PAA) Gained Today
Plains All American Pipeline (PAA) ended the recent trading session at $15.41, demonstrating a +0.72% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.8%. On the other hand, the Dow registered a loss of 0.76%, and the technology-centric Nasdaq decreased by 1.18%.
Shares of the oil and gas transportation and storage company witnessed a loss of 1.35% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 0.83% and the S&P 500's gain of 3.4%.
Analysts and investors alike will be keeping a close eye on the performance of Plains All American Pipeline in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.37, showcasing a 12.12% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $17.34 billion, up 33.89% from the year-ago period.
It's also important for investors to be aware of any recent modifications 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate has moved 2.53% higher within the past month. Right now, Plains All American Pipeline possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Plains All American Pipeline is holding a Forward P/E ratio of 11.81. This represents a discount compared to its industry's average Forward P/E of 12.05.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 41% 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.
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Plains All American Pipeline, L.P. (PAA) : Free Stock Analysis Report
