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Plains All American Pipeline (PAA) Stock Declines While Market Improves: Some Information for Investors
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The latest trading session saw Plains All American Pipeline (PAA - Free Report) ending at $16.20, denoting a -0.61% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.76%. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, added 1.12%.
Heading into today, shares of the oil and gas transportation and storage company had gained 7.59% over the past month, outpacing the Oils-Energy sector's loss of 2.82% and the S&P 500's gain of 2.5% in that time.
The upcoming earnings release of Plains All American Pipeline will be of great interest to investors. The company's earnings report is expected on February 9, 2024. In that report, analysts expect Plains All American Pipeline to post earnings of $0.37 per share. This would mark year-over-year growth of 12.12%. Our most recent consensus estimate is calling for quarterly revenue of $18.41 billion, up 42.13% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for Plains All American Pipeline. Recent revisions tend to reflect the latest near-term business trends. 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. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.01% decrease. Right now, Plains All American Pipeline possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Plains All American Pipeline is at present trading with a Forward P/E ratio of 12.84. This represents a premium compared to its industry's average Forward P/E of 12.67.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 81, positioning it in the top 33% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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) Stock Declines While Market Improves: Some Information for Investors
The latest trading session saw Plains All American Pipeline (PAA - Free Report) ending at $16.20, denoting a -0.61% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.76%. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, added 1.12%.
Heading into today, shares of the oil and gas transportation and storage company had gained 7.59% over the past month, outpacing the Oils-Energy sector's loss of 2.82% and the S&P 500's gain of 2.5% in that time.
The upcoming earnings release of Plains All American Pipeline will be of great interest to investors. The company's earnings report is expected on February 9, 2024. In that report, analysts expect Plains All American Pipeline to post earnings of $0.37 per share. This would mark year-over-year growth of 12.12%. Our most recent consensus estimate is calling for quarterly revenue of $18.41 billion, up 42.13% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for Plains All American Pipeline. Recent revisions tend to reflect the latest near-term business trends. 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. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.01% decrease. Right now, Plains All American Pipeline possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Plains All American Pipeline is at present trading with a Forward P/E ratio of 12.84. This represents a premium compared to its industry's average Forward P/E of 12.67.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 81, positioning it in the top 33% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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.