Magellan Midstream Partners closed the most recent trading day at $50.96, moving -1.22% from the previous trading session. This change was narrower than the S&P 500's 4.32% loss on the day. At the same time, the Dow lost 3.94%, and the tech-heavy Nasdaq lost 0.34%.
Prior to today's trading, shares of the petroleum and oil storage and transportation company had lost 1.4% over the past month. This has lagged the Oils-Energy sector's gain of 2.43% and was narrower than the S&P 500's loss of 3.75% in that time.
Magellan Midstream Partners will be looking to display strength as it nears 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.
Any recent changes to analyst estimates for Magellan Midstream Partners should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 6.1% lower. Magellan Midstream Partners is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Magellan Midstream Partners currently has a Forward P/E ratio of 11.86. This valuation marks a premium compared to its industry's average Forward P/E of 11.46.
Investors should also note that MMP has a PEG ratio of 3.44 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 2.86 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% 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.
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 Moves -1.22%: What You Should Know
Magellan Midstream Partners closed the most recent trading day at $50.96, moving -1.22% from the previous trading session. This change was narrower than the S&P 500's 4.32% loss on the day. At the same time, the Dow lost 3.94%, and the tech-heavy Nasdaq lost 0.34%.
Prior to today's trading, shares of the petroleum and oil storage and transportation company had lost 1.4% over the past month. This has lagged the Oils-Energy sector's gain of 2.43% and was narrower than the S&P 500's loss of 3.75% in that time.
Magellan Midstream Partners will be looking to display strength as it nears 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.
Any recent changes to analyst estimates for Magellan Midstream Partners should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 6.1% lower. Magellan Midstream Partners is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Magellan Midstream Partners currently has a Forward P/E ratio of 11.86. This valuation marks a premium compared to its industry's average Forward P/E of 11.46.
Investors should also note that MMP has a PEG ratio of 3.44 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 2.86 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.