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Enbridge (ENB - Free Report) closed at $36.74 in the latest trading session, marking a +0.55% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 1.08%. Elsewhere, the Dow gained 0.32%, while the tech-heavy Nasdaq added 1.58%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 5.3% over the past month. This has outpaced the Oils-Energy sector's loss of 9.19% and the S&P 500's gain of 0.43% in that time.
Investors will be eagerly watching for the performance of Enbridge in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 2, 2024. The company's earnings per share (EPS) are projected to be $0.47, reflecting a 7.84% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.28 billion, down 44.87% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.14 per share and a revenue of $21.85 billion, indicating changes of +3.38% and -32.58%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Enbridge. These revisions help to show the ever-changing nature 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 benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.47% upward. Right now, Enbridge possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Enbridge is currently exchanging hands at a Forward P/E ratio of 17.05. For comparison, its industry has an average Forward P/E of 17.97, which means Enbridge is trading at a discount to the group.
Also, we should mention that ENB has a PEG ratio of 3.41. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Production and Pipelines was holding an average PEG ratio of 3.38 at yesterday's closing price.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 26, this industry ranks in the top 11% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Enbridge (ENB) Rises Yet Lags Behind Market: Some Facts Worth Knowing
Enbridge (ENB - Free Report) closed at $36.74 in the latest trading session, marking a +0.55% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 1.08%. Elsewhere, the Dow gained 0.32%, while the tech-heavy Nasdaq added 1.58%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 5.3% over the past month. This has outpaced the Oils-Energy sector's loss of 9.19% and the S&P 500's gain of 0.43% in that time.
Investors will be eagerly watching for the performance of Enbridge in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 2, 2024. The company's earnings per share (EPS) are projected to be $0.47, reflecting a 7.84% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.28 billion, down 44.87% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.14 per share and a revenue of $21.85 billion, indicating changes of +3.38% and -32.58%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Enbridge. These revisions help to show the ever-changing nature 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 benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.47% upward. Right now, Enbridge possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Enbridge is currently exchanging hands at a Forward P/E ratio of 17.05. For comparison, its industry has an average Forward P/E of 17.97, which means Enbridge is trading at a discount to the group.
Also, we should mention that ENB has a PEG ratio of 3.41. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Production and Pipelines was holding an average PEG ratio of 3.38 at yesterday's closing price.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 26, this industry ranks in the top 11% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.