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Imperial Oil (IMO) Gains As Market Dips: What You Should Know
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Imperial Oil (IMO - Free Report) closed at $54.24 in the latest trading session, marking a +0.15% move from the prior day. This change outpaced the S&P 500's 3.88% loss on the day. At the same time, the Dow lost 2.79%, and the tech-heavy Nasdaq lost 0.67%.
Prior to today's trading, shares of the oil and gas and petroleum products company had gained 8.82% over the past month. This has lagged the Oils-Energy sector's gain of 13.05% and outpaced the S&P 500's loss of 2.32% in that time.
Wall Street will be looking for positivity from Imperial Oil as it approaches its next earnings report date. In that report, analysts expect Imperial Oil to post earnings of $2.19 per share. This would mark year-over-year growth of 434.15%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.64 billion, up 138.69% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.11 per share and revenue of $54.6 billion. These totals would mark changes of +155.76% and +82.18%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Imperial Oil. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.31% higher within the past month. Imperial Oil currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note Imperial Oil's current valuation metrics, including its Forward P/E ratio of 7.62. This represents a discount compared to its industry's average Forward P/E of 8.07.
Also, we should mention that IMO has a PEG ratio of 0.25. 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. The Oil and Gas - Integrated - Canadian industry currently had an average PEG ratio of 0.41 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 2, which puts it in the top 1% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Imperial Oil (IMO) Gains As Market Dips: What You Should Know
Imperial Oil (IMO - Free Report) closed at $54.24 in the latest trading session, marking a +0.15% move from the prior day. This change outpaced the S&P 500's 3.88% loss on the day. At the same time, the Dow lost 2.79%, and the tech-heavy Nasdaq lost 0.67%.
Prior to today's trading, shares of the oil and gas and petroleum products company had gained 8.82% over the past month. This has lagged the Oils-Energy sector's gain of 13.05% and outpaced the S&P 500's loss of 2.32% in that time.
Wall Street will be looking for positivity from Imperial Oil as it approaches its next earnings report date. In that report, analysts expect Imperial Oil to post earnings of $2.19 per share. This would mark year-over-year growth of 434.15%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.64 billion, up 138.69% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.11 per share and revenue of $54.6 billion. These totals would mark changes of +155.76% and +82.18%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Imperial Oil. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.31% higher within the past month. Imperial Oil currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note Imperial Oil's current valuation metrics, including its Forward P/E ratio of 7.62. This represents a discount compared to its industry's average Forward P/E of 8.07.
Also, we should mention that IMO has a PEG ratio of 0.25. 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. The Oil and Gas - Integrated - Canadian industry currently had an average PEG ratio of 0.41 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 2, which puts it in the top 1% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.