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Plains All American Pipeline (PAA) Gains As Market Dips: What You Should Know
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Plains All American Pipeline (PAA - Free Report) closed at $15.44 in the latest trading session, marking a +1.25% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq lost 0.23%.
Heading into today, shares of the oil and gas transportation and storage company had lost 1.1% over the past month, lagging the Oils-Energy sector's gain of 4.72% and the S&P 500's gain of 2.08% in that time.
Investors will be hoping for strength from Plains All American Pipeline as it approaches its next earnings release. On that day, Plains All American Pipeline is projected to report earnings of $0.23 per share, which would represent a year-over-year decline of 30.3%. Meanwhile, our latest consensus estimate is calling for revenue of $15.3 billion, up 6.71% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.28 per share and revenue of $57.05 billion, which would represent changes of +1.59% and -0.5%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Plains All American Pipeline. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.61% higher. Plains All American Pipeline currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Plains All American Pipeline has a Forward P/E ratio of 11.94 right now. For comparison, its industry has an average Forward P/E of 12.42, which means Plains All American Pipeline is trading at a discount to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% 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.
To follow PAA in the coming trading sessions, be sure to utilize Zacks.com.
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Plains All American Pipeline (PAA) Gains As Market Dips: What You Should Know
Plains All American Pipeline (PAA - Free Report) closed at $15.44 in the latest trading session, marking a +1.25% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq lost 0.23%.
Heading into today, shares of the oil and gas transportation and storage company had lost 1.1% over the past month, lagging the Oils-Energy sector's gain of 4.72% and the S&P 500's gain of 2.08% in that time.
Investors will be hoping for strength from Plains All American Pipeline as it approaches its next earnings release. On that day, Plains All American Pipeline is projected to report earnings of $0.23 per share, which would represent a year-over-year decline of 30.3%. Meanwhile, our latest consensus estimate is calling for revenue of $15.3 billion, up 6.71% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.28 per share and revenue of $57.05 billion, which would represent changes of +1.59% and -0.5%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Plains All American Pipeline. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.61% higher. Plains All American Pipeline currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Plains All American Pipeline has a Forward P/E ratio of 11.94 right now. For comparison, its industry has an average Forward P/E of 12.42, which means Plains All American Pipeline is trading at a discount to the group.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% 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.
To follow PAA in the coming trading sessions, be sure to utilize Zacks.com.