In the latest trading session, Magellan Midstream Partners closed at $50.29, marking a -0.93% move from the previous day. This change lagged the S&P 500's daily gain of 1.83%. At the same time, the Dow added 1.4%, and the tech-heavy Nasdaq gained 0.09%.
Prior to today's trading, shares of the petroleum and oil storage and transportation company had gained 2.24% over the past month. This has lagged the Oils-Energy sector's gain of 5.29% and outpaced the S&P 500's loss of 5.51% in that time.
Investors will be hoping for strength from Magellan Midstream Partners as it approaches its next earnings release. In that report, analysts expect Magellan Midstream Partners to post earnings of $1.02 per share. This would mark a year-over-year decline of 6.42%. Our most recent consensus estimate is calling for quarterly revenue of $728.39 million, up 13.98% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.35 per share and revenue of $2.95 billion. These totals would mark changes of -9.38% and +6.69%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Magellan Midstream Partners. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Within the past 30 days, our consensus EPS projection has moved 6.1% lower. Magellan Midstream Partners currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Magellan Midstream Partners currently has a Forward P/E ratio of 11.67. This represents a premium compared to its industry's average Forward P/E of 11.16.
Investors should also note that MMP has a PEG ratio of 3.38 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 2.76 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% 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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Magellan Midstream Partners (MMP) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Magellan Midstream Partners closed at $50.29, marking a -0.93% move from the previous day. This change lagged the S&P 500's daily gain of 1.83%. At the same time, the Dow added 1.4%, and the tech-heavy Nasdaq gained 0.09%.
Prior to today's trading, shares of the petroleum and oil storage and transportation company had gained 2.24% over the past month. This has lagged the Oils-Energy sector's gain of 5.29% and outpaced the S&P 500's loss of 5.51% in that time.
Investors will be hoping for strength from Magellan Midstream Partners as it approaches its next earnings release. In that report, analysts expect Magellan Midstream Partners to post earnings of $1.02 per share. This would mark a year-over-year decline of 6.42%. Our most recent consensus estimate is calling for quarterly revenue of $728.39 million, up 13.98% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.35 per share and revenue of $2.95 billion. These totals would mark changes of -9.38% and +6.69%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Magellan Midstream Partners. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Within the past 30 days, our consensus EPS projection has moved 6.1% lower. Magellan Midstream Partners currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Magellan Midstream Partners currently has a Forward P/E ratio of 11.67. This represents a premium compared to its industry's average Forward P/E of 11.16.
Investors should also note that MMP has a PEG ratio of 3.38 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 2.76 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% 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.