In the latest trading session, Magellan Midstream Partners closed at $49.75, marking a -1.17% move from the previous day. This change lagged the S&P 500's daily gain of 0.75%. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, lost 0.01%.
Prior to today's trading, shares of the petroleum and oil storage and transportation company had lost 1.43% over the past month. This has was narrower than the Oils-Energy sector's loss of 5.74% and lagged the S&P 500's gain of 3.49% in that time.
Magellan Midstream Partners will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.30, up 4.84% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $843.92 million, up 4.28% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.17 per share and revenue of $3.09 billion. These totals would mark changes of +7.71% and +11.72%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Magellan Midstream Partners. 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.
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 6.09% lower. Magellan Midstream Partners currently has a Zacks Rank of #3 (Hold).
Investors should also note Magellan Midstream Partners's current valuation metrics, including its Forward P/E ratio of 9.75. This represents a discount compared to its industry's average Forward P/E of 10.73.
Investors should also note that MMP has a PEG ratio of 1.74 right now. 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 - Production Pipeline - MLB industry currently had an average PEG ratio of 1.88 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 197, putting it in the bottom 22% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Magellan Midstream Partners (MMP) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Magellan Midstream Partners closed at $49.75, marking a -1.17% move from the previous day. This change lagged the S&P 500's daily gain of 0.75%. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, lost 0.01%.
Prior to today's trading, shares of the petroleum and oil storage and transportation company had lost 1.43% over the past month. This has was narrower than the Oils-Energy sector's loss of 5.74% and lagged the S&P 500's gain of 3.49% in that time.
Magellan Midstream Partners will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.30, up 4.84% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $843.92 million, up 4.28% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.17 per share and revenue of $3.09 billion. These totals would mark changes of +7.71% and +11.72%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Magellan Midstream Partners. 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.
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 6.09% lower. Magellan Midstream Partners currently has a Zacks Rank of #3 (Hold).
Investors should also note Magellan Midstream Partners's current valuation metrics, including its Forward P/E ratio of 9.75. This represents a discount compared to its industry's average Forward P/E of 10.73.
Investors should also note that MMP has a PEG ratio of 1.74 right now. 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 - Production Pipeline - MLB industry currently had an average PEG ratio of 1.88 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 197, putting it in the bottom 22% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.