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Imperial Oil (IMO) Outpaces Stock Market Gains: What You Should Know
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Imperial Oil (IMO - Free Report) closed at $55.75 in the latest trading session, marking a +0.6% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.31%. Meanwhile, the Dow gained 0.05%, and the Nasdaq, a tech-heavy index, added 0.14%.
Coming into today, shares of the oil and gas and petroleum products company had gained 5.04% in the past month. In that same time, the Oils-Energy sector gained 11.52%, while the S&P 500 lost 1.38%.
Investors will be hoping for strength from Imperial Oil as it approaches its next earnings release. The company is expected to report EPS of $2.18, up 431.71% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $12.99 billion, up 98.32% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.98 per share and revenue of $49.9 billion, which would represent changes of +151.08% and +66.5%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Imperial Oil. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.4% higher. Imperial Oil is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Imperial Oil is holding a Forward P/E ratio of 7.94. Its industry sports an average Forward P/E of 8.46, so we one might conclude that Imperial Oil is trading at a discount comparatively.
Also, we should mention that IMO has a PEG ratio of 0.26. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. IMO's industry had an average PEG ratio of 0.42 as of yesterday's close.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 3, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow IMO in the coming trading sessions, be sure to utilize Zacks.com.
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Imperial Oil (IMO) Outpaces Stock Market Gains: What You Should Know
Imperial Oil (IMO - Free Report) closed at $55.75 in the latest trading session, marking a +0.6% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.31%. Meanwhile, the Dow gained 0.05%, and the Nasdaq, a tech-heavy index, added 0.14%.
Coming into today, shares of the oil and gas and petroleum products company had gained 5.04% in the past month. In that same time, the Oils-Energy sector gained 11.52%, while the S&P 500 lost 1.38%.
Investors will be hoping for strength from Imperial Oil as it approaches its next earnings release. The company is expected to report EPS of $2.18, up 431.71% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $12.99 billion, up 98.32% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.98 per share and revenue of $49.9 billion, which would represent changes of +151.08% and +66.5%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Imperial Oil. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.4% higher. Imperial Oil is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Imperial Oil is holding a Forward P/E ratio of 7.94. Its industry sports an average Forward P/E of 8.46, so we one might conclude that Imperial Oil is trading at a discount comparatively.
Also, we should mention that IMO has a PEG ratio of 0.26. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. IMO's industry had an average PEG ratio of 0.42 as of yesterday's close.
The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 3, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow IMO in the coming trading sessions, be sure to utilize Zacks.com.