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Sunoco LP (SUN) Stock Sinks As Market Gains: Here's Why
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The latest trading session saw Sunoco LP (SUN - Free Report) ending at $57.31, denoting a -0.73% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 1.08%. Elsewhere, the Dow saw an upswing of 0.32%, while the tech-heavy Nasdaq appreciated by 1.58%.
Shares of the master limited partnership witnessed a gain of 2.85% over the previous month, beating the performance of the Oils-Energy sector with its loss of 9.19% and the S&P 500's gain of 0.43%.
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. The company's upcoming EPS is projected at $1.79, signifying a 129.49% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $5.49 billion, indicating a 4.41% downward movement from the same quarter last year.
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.
It is also important to note the recent changes to analyst estimates for Sunoco LP. 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Sunoco LP holds a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Sunoco LP is presently being traded at a Forward P/E ratio of 7.92. This valuation marks a discount compared to its industry's average Forward P/E of 10.8.
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 12, putting it in the top 5% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow SUN in the coming trading sessions, be sure to utilize Zacks.com.
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Sunoco LP (SUN) Stock Sinks As Market Gains: Here's Why
The latest trading session saw Sunoco LP (SUN - Free Report) ending at $57.31, denoting a -0.73% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 1.08%. Elsewhere, the Dow saw an upswing of 0.32%, while the tech-heavy Nasdaq appreciated by 1.58%.
Shares of the master limited partnership witnessed a gain of 2.85% over the previous month, beating the performance of the Oils-Energy sector with its loss of 9.19% and the S&P 500's gain of 0.43%.
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. The company's upcoming EPS is projected at $1.79, signifying a 129.49% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $5.49 billion, indicating a 4.41% downward movement from the same quarter last year.
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.
It is also important to note the recent changes to analyst estimates for Sunoco LP. 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Sunoco LP holds a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Sunoco LP is presently being traded at a Forward P/E ratio of 7.92. This valuation marks a discount compared to its industry's average Forward P/E of 10.8.
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 12, putting it in the top 5% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow SUN in the coming trading sessions, be sure to utilize Zacks.com.