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Sunoco LP (SUN) Stock Moves -1.1%: What You Should Know
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Sunoco LP (SUN - Free Report) closed at $45.01 in the latest trading session, marking a -1.1% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.58%. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 11.95%.
Prior to today's trading, shares of the master limited partnership had gained 6.73% over the past month. This has lagged the Oils-Energy sector's gain of 10.07% and outpaced the S&P 500's gain of 4.27% in that time.
Wall Street will be looking for positivity from Sunoco LP as it approaches its next earnings report date. This is expected to be May 2, 2023. The company is expected to report EPS of $1.22, down 47.41% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.52 billion, up 2.11% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.95 per share and revenue of $23.35 billion. These totals would mark changes of +5.77% and -9.24%, respectively, from last year.
Any recent changes to analyst estimates for Sunoco LP should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, 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. Within the past 30 days, our consensus EPS projection has moved 13.97% higher. Sunoco LP is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note Sunoco LP's current valuation metrics, including its Forward P/E ratio of 9.19. Its industry sports an average Forward P/E of 10.49, so we one might conclude that Sunoco LP is trading at a discount comparatively.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Sunoco LP (SUN) Stock Moves -1.1%: What You Should Know
Sunoco LP (SUN - Free Report) closed at $45.01 in the latest trading session, marking a -1.1% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.58%. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 11.95%.
Prior to today's trading, shares of the master limited partnership had gained 6.73% over the past month. This has lagged the Oils-Energy sector's gain of 10.07% and outpaced the S&P 500's gain of 4.27% in that time.
Wall Street will be looking for positivity from Sunoco LP as it approaches its next earnings report date. This is expected to be May 2, 2023. The company is expected to report EPS of $1.22, down 47.41% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.52 billion, up 2.11% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.95 per share and revenue of $23.35 billion. These totals would mark changes of +5.77% and -9.24%, respectively, from last year.
Any recent changes to analyst estimates for Sunoco LP should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, 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. Within the past 30 days, our consensus EPS projection has moved 13.97% higher. Sunoco LP is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note Sunoco LP's current valuation metrics, including its Forward P/E ratio of 9.19. Its industry sports an average Forward P/E of 10.49, so we one might conclude that Sunoco LP is trading at a discount comparatively.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.