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Sunoco LP (SUN) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Sunoco LP (SUN - Free Report) closed at $44.91, marking a -1.36% move from the previous day. This change lagged the S&P 500's daily loss of 0.01%. Meanwhile, the Dow lost 0.23%, and the Nasdaq, a tech-heavy index, added 0.97%.
Prior to today's trading, shares of the master limited partnership had gained 6.95% over the past month. This has lagged the Oils-Energy sector's gain of 12.26% and outpaced the S&P 500's gain of 6.23% in that time.
Investors will be hoping for strength from Sunoco LP as it approaches its next earnings release, which is expected to be May 2, 2023. On that day, Sunoco LP is projected to report earnings of $1.18 per share, which would represent a year-over-year decline of 49.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.49 billion, up 1.63% from the year-ago period.
SUN's full-year Zacks Consensus Estimates are calling for earnings of $4.34 per share and revenue of $23.05 billion. These results would represent year-over-year changes of -7.26% and -10.4%, respectively.
It is also important to note the recent changes to analyst estimates for Sunoco LP. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Sunoco LP is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Sunoco LP is currently trading at a Forward P/E ratio of 10.48. Its industry sports an average Forward P/E of 10.48, so we one might conclude that Sunoco LP is trading at a no noticeable deviation comparatively.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% 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.
To follow SUN in the coming trading sessions, be sure to utilize Zacks.com.
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Sunoco LP (SUN) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Sunoco LP (SUN - Free Report) closed at $44.91, marking a -1.36% move from the previous day. This change lagged the S&P 500's daily loss of 0.01%. Meanwhile, the Dow lost 0.23%, and the Nasdaq, a tech-heavy index, added 0.97%.
Prior to today's trading, shares of the master limited partnership had gained 6.95% over the past month. This has lagged the Oils-Energy sector's gain of 12.26% and outpaced the S&P 500's gain of 6.23% in that time.
Investors will be hoping for strength from Sunoco LP as it approaches its next earnings release, which is expected to be May 2, 2023. On that day, Sunoco LP is projected to report earnings of $1.18 per share, which would represent a year-over-year decline of 49.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.49 billion, up 1.63% from the year-ago period.
SUN's full-year Zacks Consensus Estimates are calling for earnings of $4.34 per share and revenue of $23.05 billion. These results would represent year-over-year changes of -7.26% and -10.4%, respectively.
It is also important to note the recent changes to analyst estimates for Sunoco LP. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Sunoco LP is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Sunoco LP is currently trading at a Forward P/E ratio of 10.48. Its industry sports an average Forward P/E of 10.48, so we one might conclude that Sunoco LP is trading at a no noticeable deviation comparatively.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% 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.
To follow SUN in the coming trading sessions, be sure to utilize Zacks.com.