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Plains All American Pipeline (PAA) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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The latest trading session saw Plains All American Pipeline (PAA - Free Report) ending at $17.07, denoting a -0.52% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a loss of 0.28% for the day. Meanwhile, the Dow experienced a drop of 0.08%, and the technology-dominated Nasdaq saw a decrease of 0.42%.
Shares of the oil and gas transportation and storage company have appreciated by 5.99% over the course of the past month, underperforming the Oils-Energy sector's gain of 6.42% and outperforming the S&P 500's gain of 2.67%.
Market participants will be closely following the financial results of Plains All American Pipeline in its upcoming release. On that day, Plains All American Pipeline is projected to report earnings of $0.37 per share, which would represent a year-over-year decline of 9.76%. Simultaneously, our latest consensus estimate expects the revenue to be $13.4 billion, showing an 8.6% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.24 per share and revenue of $54.01 billion, indicating changes of -12.68% and +10.87%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Plains All American Pipeline should also be noted by investors. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 has moved 1.59% lower within the past month. Plains All American Pipeline is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Plains All American Pipeline's current valuation metrics, including its Forward P/E ratio of 13.84. For comparison, its industry has an average Forward P/E of 12.79, which means Plains All American Pipeline is trading at a premium to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 162, this industry ranks in the bottom 36% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Plains All American Pipeline (PAA) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The latest trading session saw Plains All American Pipeline (PAA - Free Report) ending at $17.07, denoting a -0.52% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a loss of 0.28% for the day. Meanwhile, the Dow experienced a drop of 0.08%, and the technology-dominated Nasdaq saw a decrease of 0.42%.
Shares of the oil and gas transportation and storage company have appreciated by 5.99% over the course of the past month, underperforming the Oils-Energy sector's gain of 6.42% and outperforming the S&P 500's gain of 2.67%.
Market participants will be closely following the financial results of Plains All American Pipeline in its upcoming release. On that day, Plains All American Pipeline is projected to report earnings of $0.37 per share, which would represent a year-over-year decline of 9.76%. Simultaneously, our latest consensus estimate expects the revenue to be $13.4 billion, showing an 8.6% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.24 per share and revenue of $54.01 billion, indicating changes of -12.68% and +10.87%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Plains All American Pipeline should also be noted by investors. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 has moved 1.59% lower within the past month. Plains All American Pipeline is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Plains All American Pipeline's current valuation metrics, including its Forward P/E ratio of 13.84. For comparison, its industry has an average Forward P/E of 12.79, which means Plains All American Pipeline is trading at a premium to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 162, this industry ranks in the bottom 36% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.