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Valero Energy (VLO) Gains As Market Dips: What You Should Know
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Valero Energy (VLO - Free Report) closed the most recent trading day at $143.98, moving +1.1% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 0.96%. Elsewhere, the Dow saw a downswing of 0.94%, while the tech-heavy Nasdaq depreciated by 1.18%.
Heading into today, shares of the oil refiner had gained 6.13% over the past month, lagging the Oils-Energy sector's gain of 7.24% and outpacing the S&P 500's gain of 4.3% in that time.
Market participants will be closely following the financial results of Valero Energy in its upcoming release. The company plans to announce its earnings on October 24, 2024. On that day, Valero Energy is projected to report earnings of $1.77 per share, which would represent a year-over-year decline of 76.37%. Meanwhile, our latest consensus estimate is calling for revenue of $33.31 billion, down 13.27% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.85 per share and revenue of $130.65 billion. These totals would mark changes of -60.44% and -9.75%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Valero Energy. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 19.92% lower. Currently, Valero Energy is carrying a Zacks Rank of #5 (Strong Sell).
In the context of valuation, Valero Energy is at present trading with a Forward P/E ratio of 14.46. This indicates a discount in contrast to its industry's Forward P/E of 16.54.
We can also see that VLO currently has a PEG ratio of 3.62. 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. As the market closed yesterday, the Oil and Gas - Refining and Marketing industry was having an average PEG ratio of 3.62.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 239, finds itself in the bottom 6% 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.
To follow VLO in the coming trading sessions, be sure to utilize Zacks.com.
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Valero Energy (VLO) Gains As Market Dips: What You Should Know
Valero Energy (VLO - Free Report) closed the most recent trading day at $143.98, moving +1.1% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 0.96%. Elsewhere, the Dow saw a downswing of 0.94%, while the tech-heavy Nasdaq depreciated by 1.18%.
Heading into today, shares of the oil refiner had gained 6.13% over the past month, lagging the Oils-Energy sector's gain of 7.24% and outpacing the S&P 500's gain of 4.3% in that time.
Market participants will be closely following the financial results of Valero Energy in its upcoming release. The company plans to announce its earnings on October 24, 2024. On that day, Valero Energy is projected to report earnings of $1.77 per share, which would represent a year-over-year decline of 76.37%. Meanwhile, our latest consensus estimate is calling for revenue of $33.31 billion, down 13.27% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.85 per share and revenue of $130.65 billion. These totals would mark changes of -60.44% and -9.75%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Valero Energy. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 19.92% lower. Currently, Valero Energy is carrying a Zacks Rank of #5 (Strong Sell).
In the context of valuation, Valero Energy is at present trading with a Forward P/E ratio of 14.46. This indicates a discount in contrast to its industry's Forward P/E of 16.54.
We can also see that VLO currently has a PEG ratio of 3.62. 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. As the market closed yesterday, the Oil and Gas - Refining and Marketing industry was having an average PEG ratio of 3.62.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 239, finds itself in the bottom 6% 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.
To follow VLO in the coming trading sessions, be sure to utilize Zacks.com.