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Shell (SHEL) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest market close, Shell (SHEL - Free Report) reached $72.68, with a -0.38% movement compared to the previous day. This change lagged the S&P 500's 0.64% gain on the day. Meanwhile, the Dow experienced a rise of 1.85%, and the technology-dominated Nasdaq saw an increase of 0.2%.
Shares of the oil and gas company witnessed a gain of 5.51% over the previous month, beating the performance of the Oils-Energy sector with its loss of 8% and the S&P 500's gain of 3.82%.
Investors will be eagerly watching for the performance of Shell in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 1, 2024. The company's earnings per share (EPS) are projected to be $1.96, reflecting a 30.67% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $88.71 billion, indicating a 16.69% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.57 per share and a revenue of $356.35 billion, indicating changes of +2.02% and +10.26%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Shell. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.14% downward. Shell is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Shell's current valuation metrics, including its Forward P/E ratio of 8.51. This indicates a premium in contrast to its industry's Forward P/E of 7.77.
It's also important to note that SHEL currently trades at a PEG ratio of 1.83. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 1.83 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 92, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Shell (SHEL) Stock Drops Despite Market Gains: Important Facts to Note
In the latest market close, Shell (SHEL - Free Report) reached $72.68, with a -0.38% movement compared to the previous day. This change lagged the S&P 500's 0.64% gain on the day. Meanwhile, the Dow experienced a rise of 1.85%, and the technology-dominated Nasdaq saw an increase of 0.2%.
Shares of the oil and gas company witnessed a gain of 5.51% over the previous month, beating the performance of the Oils-Energy sector with its loss of 8% and the S&P 500's gain of 3.82%.
Investors will be eagerly watching for the performance of Shell in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 1, 2024. The company's earnings per share (EPS) are projected to be $1.96, reflecting a 30.67% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $88.71 billion, indicating a 16.69% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.57 per share and a revenue of $356.35 billion, indicating changes of +2.02% and +10.26%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Shell. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.14% downward. Shell is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Shell's current valuation metrics, including its Forward P/E ratio of 8.51. This indicates a premium in contrast to its industry's Forward P/E of 7.77.
It's also important to note that SHEL currently trades at a PEG ratio of 1.83. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 1.83 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 92, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.