In the latest trading session, Enterprise Products Partners (EPD - Free Report) closed at $17.12, marking a -1.61% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.76%. Meanwhile, the Dow lost 1.45%, and the Nasdaq, a tech-heavy index, lost 1.99%.
Heading into today, shares of the provider of midstream energy services had lost 7.45% over the past month, lagging the Oils-Energy sector's loss of 5.69% and the S&P 500's gain of 1.56% in that time.
EPD will be looking to display strength as it nears its next earnings release. On that day, EPD is projected to report earnings of $0.48 per share, which would represent a year-over-year decline of 4%. Meanwhile, our latest consensus estimate is calling for revenue of $6.37 billion, down 20.03% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.05 per share and revenue of $26.68 billion, which would represent changes of -4.65% and -18.65%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for EPD. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. Within the past 30 days, our consensus EPS projection has moved 1.31% lower. EPD is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, EPD is holding a Forward P/E ratio of 8.49. This valuation marks a premium compared to its industry's average Forward P/E of 7.78.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 216, putting it in the bottom 15% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.