Magellan Midstream Partners closed the most recent trading day at $50.50, moving +1.69% from the previous trading session. This move lagged the S&P 500's daily gain of 2.37%. Elsewhere, the Dow gained 2.47%, while the tech-heavy Nasdaq lost 0.02%.
Coming into today, shares of the petroleum and oil storage and transportation company had gained 0.38% in the past month. In that same time, the Oils-Energy sector gained 4.35%, while the S&P 500 lost 4.82%.
Magellan Midstream Partners will be looking to display strength as it nears its next earnings release, which is expected to be October 27, 2022. On that day, Magellan Midstream Partners is projected to report earnings of $1.14 per share, which would represent year-over-year growth of 4.59%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $728.39 million, up 13.98% from the year-ago period.
MMP's full-year Zacks Consensus Estimates are calling for earnings of $4.67 per share and revenue of $2.95 billion. These results would represent year-over-year changes of -2.71% and +6.69%, respectively.
Investors should also note any recent changes to analyst estimates for Magellan Midstream Partners. These revisions help to show the ever-changing nature of near-term business trends. 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. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.11% higher. Magellan Midstream Partners is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Magellan Midstream Partners is currently trading at a Forward P/E ratio of 10.63. Its industry sports an average Forward P/E of 10.63, so we one might conclude that Magellan Midstream Partners is trading at a no noticeable deviation comparatively.
We can also see that MMP currently has a PEG ratio of 3.08. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 2.65 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 74, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MMP in the coming trading sessions, be sure to utilize Zacks.com.
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Magellan Midstream Partners (MMP) Gains But Lags Market: What You Should Know
Magellan Midstream Partners closed the most recent trading day at $50.50, moving +1.69% from the previous trading session. This move lagged the S&P 500's daily gain of 2.37%. Elsewhere, the Dow gained 2.47%, while the tech-heavy Nasdaq lost 0.02%.
Coming into today, shares of the petroleum and oil storage and transportation company had gained 0.38% in the past month. In that same time, the Oils-Energy sector gained 4.35%, while the S&P 500 lost 4.82%.
Magellan Midstream Partners will be looking to display strength as it nears its next earnings release, which is expected to be October 27, 2022. On that day, Magellan Midstream Partners is projected to report earnings of $1.14 per share, which would represent year-over-year growth of 4.59%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $728.39 million, up 13.98% from the year-ago period.
MMP's full-year Zacks Consensus Estimates are calling for earnings of $4.67 per share and revenue of $2.95 billion. These results would represent year-over-year changes of -2.71% and +6.69%, respectively.
Investors should also note any recent changes to analyst estimates for Magellan Midstream Partners. These revisions help to show the ever-changing nature of near-term business trends. 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. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.11% higher. Magellan Midstream Partners is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Magellan Midstream Partners is currently trading at a Forward P/E ratio of 10.63. Its industry sports an average Forward P/E of 10.63, so we one might conclude that Magellan Midstream Partners is trading at a no noticeable deviation comparatively.
We can also see that MMP currently has a PEG ratio of 3.08. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 2.65 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 74, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MMP in the coming trading sessions, be sure to utilize Zacks.com.