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Sunoco LP (SUN) Surpasses Market Returns: Some Facts Worth Knowing
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In the latest trading session, Sunoco LP (SUN - Free Report) closed at $58.53, marking a +1.19% move from the previous day. This change outpaced the S&P 500's 0.64% gain on the day. At the same time, the Dow added 1.85%, and the tech-heavy Nasdaq gained 0.2%.
Heading into today, shares of the master limited partnership had gained 5.86% over the past month, outpacing the Oils-Energy sector's loss of 8% and the S&P 500's gain of 3.82% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Sunoco LP in its upcoming earnings disclosure. The company's earnings report is set to go public on August 7, 2024. The company is forecasted to report an EPS of $1.82, showcasing a 133.33% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $5.49 billion, down 4.37% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $7.29 per share and revenue of $22.54 billion, which would represent changes of +99.73% and -2.27%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Sunoco LP. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Sunoco LP is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Sunoco LP's current valuation metrics, including its Forward P/E ratio of 7.93. This expresses a discount compared to the average Forward P/E of 11.63 of its industry.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 18, finds itself in the top 8% echelons of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Sunoco LP (SUN) Surpasses Market Returns: Some Facts Worth Knowing
In the latest trading session, Sunoco LP (SUN - Free Report) closed at $58.53, marking a +1.19% move from the previous day. This change outpaced the S&P 500's 0.64% gain on the day. At the same time, the Dow added 1.85%, and the tech-heavy Nasdaq gained 0.2%.
Heading into today, shares of the master limited partnership had gained 5.86% over the past month, outpacing the Oils-Energy sector's loss of 8% and the S&P 500's gain of 3.82% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Sunoco LP in its upcoming earnings disclosure. The company's earnings report is set to go public on August 7, 2024. The company is forecasted to report an EPS of $1.82, showcasing a 133.33% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $5.49 billion, down 4.37% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $7.29 per share and revenue of $22.54 billion, which would represent changes of +99.73% and -2.27%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Sunoco LP. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Sunoco LP is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Sunoco LP's current valuation metrics, including its Forward P/E ratio of 7.93. This expresses a discount compared to the average Forward P/E of 11.63 of its industry.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 18, finds itself in the top 8% echelons of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.