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Plains All American Pipeline (PAA) Gains As Market Dips: What You Should Know
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Plains All American Pipeline (PAA - Free Report) closed at $15.67 in the latest trading session, marking a +0.38% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.64%. Meanwhile, the Dow lost 1.08%, and the Nasdaq, a tech-heavy index, lost 1.82%.
Heading into today, shares of the oil and gas transportation and storage company had gained 1.69% over the past month, lagging the Oils-Energy sector's gain of 3.68% and outpacing the S&P 500's gain of 0.89% in that time.
Wall Street will be looking for positivity from Plains All American Pipeline as it approaches its next earnings report date. The company is expected to report EPS of $0.23, down 30.3% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $15.3 billion, up 6.71% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.28 per share and revenue of $57.05 billion, which would represent changes of +1.59% and -0.5%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Plains All American Pipeline. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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.
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. Within the past 30 days, our consensus EPS projection has moved 2.61% higher. Plains All American Pipeline is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Plains All American Pipeline is currently trading at a Forward P/E ratio of 12.22. For comparison, its industry has an average Forward P/E of 12.66, which means Plains All American Pipeline is trading at a discount to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 35% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Plains All American Pipeline (PAA) Gains As Market Dips: What You Should Know
Plains All American Pipeline (PAA - Free Report) closed at $15.67 in the latest trading session, marking a +0.38% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.64%. Meanwhile, the Dow lost 1.08%, and the Nasdaq, a tech-heavy index, lost 1.82%.
Heading into today, shares of the oil and gas transportation and storage company had gained 1.69% over the past month, lagging the Oils-Energy sector's gain of 3.68% and outpacing the S&P 500's gain of 0.89% in that time.
Wall Street will be looking for positivity from Plains All American Pipeline as it approaches its next earnings report date. The company is expected to report EPS of $0.23, down 30.3% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $15.3 billion, up 6.71% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.28 per share and revenue of $57.05 billion, which would represent changes of +1.59% and -0.5%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Plains All American Pipeline. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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.
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. Within the past 30 days, our consensus EPS projection has moved 2.61% higher. Plains All American Pipeline is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Plains All American Pipeline is currently trading at a Forward P/E ratio of 12.22. For comparison, its industry has an average Forward P/E of 12.66, which means Plains All American Pipeline is trading at a discount to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 35% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.