Magellan Midstream Partners closed the most recent trading day at $47.70, moving +0.4% from the previous trading session. The stock lagged the S&P 500's daily gain of 2.59%. Meanwhile, the Dow gained 2.66%, and the Nasdaq, a tech-heavy index, added 0.12%.
Heading into today, shares of the petroleum and oil storage and transportation company had lost 7.64% over the past month, outpacing the Oils-Energy sector's loss of 9.66% and the S&P 500's loss of 9.22% in that time.
Wall Street will be looking for positivity from Magellan Midstream Partners as it approaches its next earnings report date. This is expected to be October 27, 2022. On that day, Magellan Midstream Partners is projected to report earnings of $1.01 per share, which would represent a year-over-year decline of 7.34%. Our most recent consensus estimate is calling for quarterly revenue of $728.39 million, up 13.98% from the year-ago period.
MMP's full-year Zacks Consensus Estimates are calling for earnings of $4.35 per share and revenue of $2.95 billion. These results would represent year-over-year changes of -9.38% and +6.69%, respectively.
Any recent changes to analyst estimates for Magellan Midstream Partners should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. The Zacks Consensus EPS estimate has moved 6.1% lower within the past month. Magellan Midstream Partners is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Magellan Midstream Partners is holding a Forward P/E ratio of 10.92. For comparison, its industry has an average Forward P/E of 10.66, which means Magellan Midstream Partners is trading at a premium to the group.
Investors should also note that MMP has a PEG ratio of 3.17 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 2.5 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Magellan Midstream Partners (MMP) Gains But Lags Market: What You Should Know
Magellan Midstream Partners closed the most recent trading day at $47.70, moving +0.4% from the previous trading session. The stock lagged the S&P 500's daily gain of 2.59%. Meanwhile, the Dow gained 2.66%, and the Nasdaq, a tech-heavy index, added 0.12%.
Heading into today, shares of the petroleum and oil storage and transportation company had lost 7.64% over the past month, outpacing the Oils-Energy sector's loss of 9.66% and the S&P 500's loss of 9.22% in that time.
Wall Street will be looking for positivity from Magellan Midstream Partners as it approaches its next earnings report date. This is expected to be October 27, 2022. On that day, Magellan Midstream Partners is projected to report earnings of $1.01 per share, which would represent a year-over-year decline of 7.34%. Our most recent consensus estimate is calling for quarterly revenue of $728.39 million, up 13.98% from the year-ago period.
MMP's full-year Zacks Consensus Estimates are calling for earnings of $4.35 per share and revenue of $2.95 billion. These results would represent year-over-year changes of -9.38% and +6.69%, respectively.
Any recent changes to analyst estimates for Magellan Midstream Partners should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. The Zacks Consensus EPS estimate has moved 6.1% lower within the past month. Magellan Midstream Partners is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Magellan Midstream Partners is holding a Forward P/E ratio of 10.92. For comparison, its industry has an average Forward P/E of 10.66, which means Magellan Midstream Partners is trading at a premium to the group.
Investors should also note that MMP has a PEG ratio of 3.17 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 2.5 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.