Magellan Midstream Partners closed the most recent trading day at $51.90, moving +0.91% from the previous trading session. This move lagged the S&P 500's daily gain of 1.29%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 10.96%.
Prior to today's trading, shares of the petroleum and oil storage and transportation company had gained 1.96% over the past month. This has lagged the Oils-Energy sector's gain of 4.41% and outpaced the S&P 500's loss of 0.23% in that time.
Magellan Midstream Partners will be looking to display strength as it nears its next earnings release, which is expected to be February 2, 2023. The company is expected to report EPS of $1.31, up 5.65% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $840.89 million, up 3.9% from the prior-year quarter.
It is also important to note the 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. 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.
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 has moved 1.36% higher. Magellan Midstream Partners is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note Magellan Midstream Partners's current valuation metrics, including its Forward P/E ratio of 10.34. This represents a premium compared to its industry's average Forward P/E of 10.22.
Investors should also note that MMP has a PEG ratio of 1.99 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. MMP's industry had an average PEG ratio of 1.92 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 92, which puts 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.
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 $51.90, moving +0.91% from the previous trading session. This move lagged the S&P 500's daily gain of 1.29%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 10.96%.
Prior to today's trading, shares of the petroleum and oil storage and transportation company had gained 1.96% over the past month. This has lagged the Oils-Energy sector's gain of 4.41% and outpaced the S&P 500's loss of 0.23% in that time.
Magellan Midstream Partners will be looking to display strength as it nears its next earnings release, which is expected to be February 2, 2023. The company is expected to report EPS of $1.31, up 5.65% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $840.89 million, up 3.9% from the prior-year quarter.
It is also important to note the 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. 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.
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 has moved 1.36% higher. Magellan Midstream Partners is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note Magellan Midstream Partners's current valuation metrics, including its Forward P/E ratio of 10.34. This represents a premium compared to its industry's average Forward P/E of 10.22.
Investors should also note that MMP has a PEG ratio of 1.99 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. MMP's industry had an average PEG ratio of 1.92 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 92, which puts 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.
To follow MMP in the coming trading sessions, be sure to utilize Zacks.com.