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Sunoco LP (SUN) Outperforms Broader Market: What You Need to Know
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Sunoco LP (SUN - Free Report) closed at $57.84 in the latest trading session, marking a +1.21% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.28%. Meanwhile, the Dow experienced a rise of 0.53%, and the technology-dominated Nasdaq saw an increase of 0.4%.
Heading into today, shares of the master limited partnership had gained 9.95% over the past month, outpacing the Oils-Energy sector's loss of 10.93% and the S&P 500's gain of 3.78% in that time.
The investment community will be closely monitoring the performance of Sunoco LP in its forthcoming earnings report. The company is scheduled to release its earnings on August 7, 2024. On that day, Sunoco LP is projected to report earnings of $1.82 per share, which would represent year-over-year growth of 133.33%. Our most recent consensus estimate is calling for quarterly revenue of $5.49 billion, down 4.37% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.29 per share and a revenue of $22.54 billion, representing changes of +99.73% and -2.27%, respectively, from the prior year.
Any recent changes to analyst estimates for Sunoco LP should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Sunoco LP presently features a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Sunoco LP is presently trading at a Forward P/E ratio of 7.84. For comparison, its industry has an average Forward P/E of 11.86, which means Sunoco LP is trading at a discount to the group.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Sunoco LP (SUN) Outperforms Broader Market: What You Need to Know
Sunoco LP (SUN - Free Report) closed at $57.84 in the latest trading session, marking a +1.21% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.28%. Meanwhile, the Dow experienced a rise of 0.53%, and the technology-dominated Nasdaq saw an increase of 0.4%.
Heading into today, shares of the master limited partnership had gained 9.95% over the past month, outpacing the Oils-Energy sector's loss of 10.93% and the S&P 500's gain of 3.78% in that time.
The investment community will be closely monitoring the performance of Sunoco LP in its forthcoming earnings report. The company is scheduled to release its earnings on August 7, 2024. On that day, Sunoco LP is projected to report earnings of $1.82 per share, which would represent year-over-year growth of 133.33%. Our most recent consensus estimate is calling for quarterly revenue of $5.49 billion, down 4.37% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.29 per share and a revenue of $22.54 billion, representing changes of +99.73% and -2.27%, respectively, from the prior year.
Any recent changes to analyst estimates for Sunoco LP should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Sunoco LP presently features a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Sunoco LP is presently trading at a Forward P/E ratio of 7.84. For comparison, its industry has an average Forward P/E of 11.86, which means Sunoco LP is trading at a discount to the group.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.