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Marathon Petroleum (MPC) Stock Moves -1.26%: What You Should Know
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The latest trading session saw Marathon Petroleum (MPC - Free Report) ending at $165.56, denoting a -1.26% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily loss of 1.39%. Elsewhere, the Dow saw an upswing of 0.6%, while the tech-heavy Nasdaq depreciated by 2.77%.
The refiner's stock has dropped by 2.77% in the past month, exceeding the Oils-Energy sector's loss of 7.9% and lagging the S&P 500's gain of 4.43%.
Investors will be eagerly watching for the performance of Marathon Petroleum in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 6, 2024. The company is forecasted to report an EPS of $5.09, showcasing a 4.32% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $31.85 billion, indicating a 13.51% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $15.61 per share and a revenue of $129.29 billion, indicating changes of -33.94% and -13.99%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Marathon Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 11.87% lower. Marathon Petroleum is holding a Zacks Rank of #4 (Sell) right now.
Looking at valuation, Marathon Petroleum is presently trading at a Forward P/E ratio of 10.74. This signifies a discount in comparison to the average Forward P/E of 12.5 for its industry.
It is also worth noting that MPC currently has a PEG ratio of 1.79. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Refining and Marketing was holding an average PEG ratio of 1.79 at yesterday's closing price.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 237, this industry ranks in the bottom 6% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Marathon Petroleum (MPC) Stock Moves -1.26%: What You Should Know
The latest trading session saw Marathon Petroleum (MPC - Free Report) ending at $165.56, denoting a -1.26% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily loss of 1.39%. Elsewhere, the Dow saw an upswing of 0.6%, while the tech-heavy Nasdaq depreciated by 2.77%.
The refiner's stock has dropped by 2.77% in the past month, exceeding the Oils-Energy sector's loss of 7.9% and lagging the S&P 500's gain of 4.43%.
Investors will be eagerly watching for the performance of Marathon Petroleum in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 6, 2024. The company is forecasted to report an EPS of $5.09, showcasing a 4.32% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $31.85 billion, indicating a 13.51% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $15.61 per share and a revenue of $129.29 billion, indicating changes of -33.94% and -13.99%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Marathon Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 11.87% lower. Marathon Petroleum is holding a Zacks Rank of #4 (Sell) right now.
Looking at valuation, Marathon Petroleum is presently trading at a Forward P/E ratio of 10.74. This signifies a discount in comparison to the average Forward P/E of 12.5 for its industry.
It is also worth noting that MPC currently has a PEG ratio of 1.79. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Refining and Marketing was holding an average PEG ratio of 1.79 at yesterday's closing price.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 237, this industry ranks in the bottom 6% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.