EnLink Midstream (ENLC - Free Report) closed at $10.12 in the latest trading session, marking a -1.75% move from the prior day. This change lagged the S&P 500's 1.83% gain on the day. Meanwhile, the Dow gained 1.4%, and the Nasdaq, a tech-heavy index, added 0.09%.
Prior to today's trading, shares of the natural gas company had gained 9.57% over the past month. This has outpaced the Oils-Energy sector's gain of 5.29% and the S&P 500's loss of 5.51% in that time.
EnLink Midstream will be looking to display strength as it nears its next earnings release. Meanwhile, our latest consensus estimate is calling for revenue of $1.87 billion, up 4.39% from the prior-year quarter.
ENLC's full-year Zacks Consensus Estimates are calling for earnings of $0.41 per share and revenue of $8.75 billion. These results would represent year-over-year changes of +720% and +30.95%, respectively.
Investors might also notice recent changes to analyst estimates for EnLink Midstream. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.07% higher. EnLink Midstream currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, EnLink Midstream is currently trading at a Forward P/E ratio of 25.12. Its industry sports an average Forward P/E of 5.97, so we one might conclude that EnLink Midstream is trading at a premium comparatively.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 4, putting it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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EnLink Midstream (ENLC - Free Report) closed at $10.12 in the latest trading session, marking a -1.75% move from the prior day. This change lagged the S&P 500's 1.83% gain on the day. Meanwhile, the Dow gained 1.4%, and the Nasdaq, a tech-heavy index, added 0.09%.
Prior to today's trading, shares of the natural gas company had gained 9.57% over the past month. This has outpaced the Oils-Energy sector's gain of 5.29% and the S&P 500's loss of 5.51% in that time.
EnLink Midstream will be looking to display strength as it nears its next earnings release. Meanwhile, our latest consensus estimate is calling for revenue of $1.87 billion, up 4.39% from the prior-year quarter.
ENLC's full-year Zacks Consensus Estimates are calling for earnings of $0.41 per share and revenue of $8.75 billion. These results would represent year-over-year changes of +720% and +30.95%, respectively.
Investors might also notice recent changes to analyst estimates for EnLink Midstream. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.07% higher. EnLink Midstream currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, EnLink Midstream is currently trading at a Forward P/E ratio of 25.12. Its industry sports an average Forward P/E of 5.97, so we one might conclude that EnLink Midstream is trading at a premium comparatively.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 4, putting it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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