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Plains All American Pipeline (PAA) Gains But Lags Market: What You Should Know
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Plains All American Pipeline (PAA - Free Report) closed at $11.32 in the latest trading session, marking a +1.8% move from the prior day. The stock lagged the S&P 500's daily gain of 2.6%. At the same time, the Dow added 2.83%, and the tech-heavy Nasdaq lost 0.05%.
Coming into today, shares of the oil and gas transportation and storage company had lost 10.03% in the past month. In that same time, the Oils-Energy sector lost 5.18%, while the S&P 500 lost 12.9%.
Investors will be hoping for strength from Plains All American Pipeline as it approaches its next earnings release, which is expected to be November 2, 2022. The company is expected to report EPS of $0.27, up 22.73% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.03 billion, up 39.5% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.10 per share and revenue of $60.06 billion. These totals would mark changes of +15.79% and +42.86%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Plains All American Pipeline. Recent revisions tend to reflect the latest near-term business trends. 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 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. Within the past 30 days, our consensus EPS projection remained stagnant. Plains All American Pipeline is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, Plains All American Pipeline currently has a Forward P/E ratio of 10.15. This represents a discount compared to its industry's average Forward P/E of 10.63.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 46, putting it in the top 19% 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 PAA in the coming trading sessions, be sure to utilize Zacks.com.
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Plains All American Pipeline (PAA) Gains But Lags Market: What You Should Know
Plains All American Pipeline (PAA - Free Report) closed at $11.32 in the latest trading session, marking a +1.8% move from the prior day. The stock lagged the S&P 500's daily gain of 2.6%. At the same time, the Dow added 2.83%, and the tech-heavy Nasdaq lost 0.05%.
Coming into today, shares of the oil and gas transportation and storage company had lost 10.03% in the past month. In that same time, the Oils-Energy sector lost 5.18%, while the S&P 500 lost 12.9%.
Investors will be hoping for strength from Plains All American Pipeline as it approaches its next earnings release, which is expected to be November 2, 2022. The company is expected to report EPS of $0.27, up 22.73% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.03 billion, up 39.5% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.10 per share and revenue of $60.06 billion. These totals would mark changes of +15.79% and +42.86%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Plains All American Pipeline. Recent revisions tend to reflect the latest near-term business trends. 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 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. Within the past 30 days, our consensus EPS projection remained stagnant. Plains All American Pipeline is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, Plains All American Pipeline currently has a Forward P/E ratio of 10.15. This represents a discount compared to its industry's average Forward P/E of 10.63.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 46, putting it in the top 19% 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 PAA in the coming trading sessions, be sure to utilize Zacks.com.