In the latest market close, Sunoco LP (SUN - Free Report) reached $54.37, with a +0.69% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.22% for the day. Meanwhile, the Dow experienced a rise of 0.06%, and the technology-dominated Nasdaq saw a decrease of 0.52%.
The master limited partnership's shares have seen a decrease of 12.52% over the last month, not keeping up with the Oils-Energy sector's gain of 3.38% and the S&P 500's loss of 1.66%.
Investors will be eagerly watching for the performance of Sunoco LP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 8, 2024. The company is predicted to post an EPS of $1.04, indicating a 26.24% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.09 billion, down 5.03% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.99 per share and a revenue of $22.24 billion, signifying shifts of +36.71% and -3.59%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Sunoco LP. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.36% higher. Sunoco LP is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Sunoco LP's current valuation metrics, including its Forward P/E ratio of 10.83. This indicates a discount in contrast to its industry's Forward P/E of 15.55.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 65, placing it within the top 26% of over 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 SUN in the coming trading sessions, be sure to utilize Zacks.com.
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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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In the latest market close, Sunoco LP (SUN - Free Report) reached $54.37, with a +0.69% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.22% for the day. Meanwhile, the Dow experienced a rise of 0.06%, and the technology-dominated Nasdaq saw a decrease of 0.52%.
The master limited partnership's shares have seen a decrease of 12.52% over the last month, not keeping up with the Oils-Energy sector's gain of 3.38% and the S&P 500's loss of 1.66%.
Investors will be eagerly watching for the performance of Sunoco LP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 8, 2024. The company is predicted to post an EPS of $1.04, indicating a 26.24% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.09 billion, down 5.03% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.99 per share and a revenue of $22.24 billion, signifying shifts of +36.71% and -3.59%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Sunoco LP. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.36% higher. Sunoco LP is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Sunoco LP's current valuation metrics, including its Forward P/E ratio of 10.83. This indicates a discount in contrast to its industry's Forward P/E of 15.55.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 65, placing it within the top 26% of over 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 SUN in the coming trading sessions, be sure to utilize Zacks.com.
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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