The latest trading session saw Marathon Petroleum (MPC - Free Report) ending at $211.22, denoting a -0.42% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.95%. At the same time, the Dow lost 1.09%, and the tech-heavy Nasdaq lost 0.84%.
Shares of the refiner have appreciated by 17.06% over the course of the past month, outperforming the Oils-Energy sector's gain of 8.7% and the S&P 500's gain of 1.78%.
The investment community will be closely monitoring the performance of Marathon Petroleum in its forthcoming earnings report. The company is scheduled to release its earnings on April 30, 2024. It is anticipated that the company will report an EPS of $2.31, marking a 62.07% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $31.26 billion, down 10.88% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $17.53 per share and a revenue of $128.02 billion, signifying shifts of -25.81% and -14.83%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Marathon Petroleum. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 20.78% higher. Marathon Petroleum is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Marathon Petroleum is currently exchanging hands at a Forward P/E ratio of 12.1. This denotes a discount relative to the industry's average Forward P/E of 12.21.
We can additionally observe that MPC currently boasts a PEG ratio of 2.02. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Refining and Marketing industry currently had an average PEG ratio of 1.9 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 68, placing it within the top 27% of over 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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The latest trading session saw Marathon Petroleum (MPC - Free Report) ending at $211.22, denoting a -0.42% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.95%. At the same time, the Dow lost 1.09%, and the tech-heavy Nasdaq lost 0.84%.
Shares of the refiner have appreciated by 17.06% over the course of the past month, outperforming the Oils-Energy sector's gain of 8.7% and the S&P 500's gain of 1.78%.
The investment community will be closely monitoring the performance of Marathon Petroleum in its forthcoming earnings report. The company is scheduled to release its earnings on April 30, 2024. It is anticipated that the company will report an EPS of $2.31, marking a 62.07% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $31.26 billion, down 10.88% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $17.53 per share and a revenue of $128.02 billion, signifying shifts of -25.81% and -14.83%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Marathon Petroleum. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 20.78% higher. Marathon Petroleum is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Marathon Petroleum is currently exchanging hands at a Forward P/E ratio of 12.1. This denotes a discount relative to the industry's average Forward P/E of 12.21.
We can additionally observe that MPC currently boasts a PEG ratio of 2.02. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Refining and Marketing industry currently had an average PEG ratio of 1.9 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 68, placing it within the top 27% of over 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Free Report – The Bitcoin Profit Phenomenon
Zacks Investment Research has released a Special Report to help you pursue massive profits from the world’s first and largest decentralized form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%.
Zacks predicts another significant surge. Click below for Bitcoin: A Tumultuous Yet Resilient History.
Download Now – Today It’s FREE >>
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