Magellan Midstream Partners closed the most recent trading day at $60.36, moving +0.43% from the previous trading session. This move lagged the S&P 500's daily gain of 1.15%. Meanwhile, the Dow gained 0.63%, and the Nasdaq, a tech-heavy index, added 7.23%.
Heading into today, shares of the petroleum and oil storage and transportation company had lost 1.73% over the past month, lagging the Oils-Energy sector's gain of 2.12% and the S&P 500's gain of 3.08% in that time.
Wall Street will be looking for positivity from Magellan Midstream Partners as it approaches its next earnings report date. On that day, Magellan Midstream Partners is projected to report earnings of $1.09 per share, which would represent a year-over-year decline of 3.54%. Our most recent consensus estimate is calling for quarterly revenue of $771.78 million, down 2.13% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.05 per share and revenue of $3.38 billion, which would represent changes of +10.99% and +5.54%, respectively, from the prior year.
Any recent changes to analyst estimates for Magellan Midstream Partners should also be noted by investors. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Magellan Midstream Partners is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Magellan Midstream Partners has a Forward P/E ratio of 11.91 right now. Its industry sports an average Forward P/E of 11.57, so we one might conclude that Magellan Midstream Partners is trading at a premium comparatively.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 213, putting it in the bottom 16% 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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Magellan Midstream Partners (MMP) Gains But Lags Market: What You Should Know
Magellan Midstream Partners closed the most recent trading day at $60.36, moving +0.43% from the previous trading session. This move lagged the S&P 500's daily gain of 1.15%. Meanwhile, the Dow gained 0.63%, and the Nasdaq, a tech-heavy index, added 7.23%.
Heading into today, shares of the petroleum and oil storage and transportation company had lost 1.73% over the past month, lagging the Oils-Energy sector's gain of 2.12% and the S&P 500's gain of 3.08% in that time.
Wall Street will be looking for positivity from Magellan Midstream Partners as it approaches its next earnings report date. On that day, Magellan Midstream Partners is projected to report earnings of $1.09 per share, which would represent a year-over-year decline of 3.54%. Our most recent consensus estimate is calling for quarterly revenue of $771.78 million, down 2.13% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.05 per share and revenue of $3.38 billion, which would represent changes of +10.99% and +5.54%, respectively, from the prior year.
Any recent changes to analyst estimates for Magellan Midstream Partners should also be noted by investors. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Magellan Midstream Partners is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Magellan Midstream Partners has a Forward P/E ratio of 11.91 right now. Its industry sports an average Forward P/E of 11.57, so we one might conclude that Magellan Midstream Partners is trading at a premium comparatively.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 213, putting it in the bottom 16% 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.