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Plains All American Pipeline (PAA) Increases Despite Market Slip: Here's What You Need to Know
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In the latest market close, Plains All American Pipeline (PAA - Free Report) reached $15.30, with a +0.2% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.32% for the day. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq lost 0.2%.
Heading into today, shares of the oil and gas transportation and storage company had lost 0.78% over the past month, outpacing the Oils-Energy sector's loss of 2.12% and lagging the S&P 500's gain of 4.59% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Plains All American Pipeline in its upcoming earnings disclosure. The company's earnings report is set to go public on February 9, 2024. The company's earnings per share (EPS) are projected to be $0.37, reflecting a 12.12% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $18.41 billion, indicating a 42.13% upward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Plains All American Pipeline. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 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 last 30 days, the Zacks Consensus EPS estimate has moved 2.01% lower. At present, Plains All American Pipeline boasts a Zacks Rank of #3 (Hold).
Investors should also note Plains All American Pipeline's current valuation metrics, including its Forward P/E ratio of 12.02. This signifies a discount in comparison to the average Forward P/E of 12.23 for its industry.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 53, finds itself in the top 22% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Plains All American Pipeline (PAA) Increases Despite Market Slip: Here's What You Need to Know
In the latest market close, Plains All American Pipeline (PAA - Free Report) reached $15.30, with a +0.2% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.32% for the day. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq lost 0.2%.
Heading into today, shares of the oil and gas transportation and storage company had lost 0.78% over the past month, outpacing the Oils-Energy sector's loss of 2.12% and lagging the S&P 500's gain of 4.59% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Plains All American Pipeline in its upcoming earnings disclosure. The company's earnings report is set to go public on February 9, 2024. The company's earnings per share (EPS) are projected to be $0.37, reflecting a 12.12% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $18.41 billion, indicating a 42.13% upward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Plains All American Pipeline. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 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 last 30 days, the Zacks Consensus EPS estimate has moved 2.01% lower. At present, Plains All American Pipeline boasts a Zacks Rank of #3 (Hold).
Investors should also note Plains All American Pipeline's current valuation metrics, including its Forward P/E ratio of 12.02. This signifies a discount in comparison to the average Forward P/E of 12.23 for its industry.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 53, finds itself in the top 22% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.