In the latest trading session, Magellan Midstream Partners closed at $48.78, marking a -0.81% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.45%. Meanwhile, the Dow lost 1.05%, and the Nasdaq, a tech-heavy index, lost 5.88%.
Prior to today's trading, shares of the petroleum and oil storage and transportation company had lost 5.48% over the past month. This has was narrower than the Oils-Energy sector's loss of 5.7% and lagged the S&P 500's loss of 1.68% 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 $1.30 per share. This would mark year-over-year growth of 4.84%. Our most recent consensus estimate is calling for quarterly revenue of $843.92 million, up 4.28% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.17 per share and revenue of $3.09 billion, which would represent changes of +7.71% and +11.72%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Magellan Midstream Partners. These recent revisions tend to reflect the evolving nature of short-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Magellan Midstream Partners is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Magellan Midstream Partners's current valuation metrics, including its Forward P/E ratio of 9.52. This valuation marks a discount compared to its industry's average Forward P/E of 10.66.
Meanwhile, MMP's PEG ratio is currently 1.7. 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 1.86 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 55, putting it in the top 22% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Magellan Midstream Partners (MMP) Stock Moves -0.81%: What You Should Know
In the latest trading session, Magellan Midstream Partners closed at $48.78, marking a -0.81% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.45%. Meanwhile, the Dow lost 1.05%, and the Nasdaq, a tech-heavy index, lost 5.88%.
Prior to today's trading, shares of the petroleum and oil storage and transportation company had lost 5.48% over the past month. This has was narrower than the Oils-Energy sector's loss of 5.7% and lagged the S&P 500's loss of 1.68% 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 $1.30 per share. This would mark year-over-year growth of 4.84%. Our most recent consensus estimate is calling for quarterly revenue of $843.92 million, up 4.28% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.17 per share and revenue of $3.09 billion, which would represent changes of +7.71% and +11.72%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Magellan Midstream Partners. These recent revisions tend to reflect the evolving nature of short-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Magellan Midstream Partners is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Magellan Midstream Partners's current valuation metrics, including its Forward P/E ratio of 9.52. This valuation marks a discount compared to its industry's average Forward P/E of 10.66.
Meanwhile, MMP's PEG ratio is currently 1.7. 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 1.86 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 55, putting it in the top 22% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.