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Enbridge (ENB) Declines More Than Market: Some Information for Investors
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In the latest market close, Enbridge (ENB - Free Report) reached $32.59, with a -1.69% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.01%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.25%.
The oil and natural gas transportation and power transmission company's shares have seen a decrease of 5.34% over the last month, not keeping up with the Oils-Energy sector's loss of 0.43% and the S&P 500's loss of 1.6%.
Analysts and investors alike will be keeping a close eye on the performance of Enbridge in its upcoming earnings disclosure. The company's earnings report is set to go public on November 3, 2023. The company's upcoming EPS is projected at $0.44, signifying a 13.73% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $8.31 billion, down 6.32% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $2.27 per share and a revenue of $34.29 billion, demonstrating changes of +5.09% and -16.43%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Enbridge. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, there's been a 0.95% fall in the Zacks Consensus EPS estimate. Currently, Enbridge is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Enbridge is presently being traded at a Forward P/E ratio of 14.6. This signifies a discount in comparison to the average Forward P/E of 15.13 for its industry.
We can additionally observe that ENB currently boasts a PEG ratio of 2.43. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Production and Pipelines was holding an average PEG ratio of 5.05 at yesterday's closing price.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 38% echelons 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 ENB in the coming trading sessions, be sure to utilize Zacks.com.
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Enbridge (ENB) Declines More Than Market: Some Information for Investors
In the latest market close, Enbridge (ENB - Free Report) reached $32.59, with a -1.69% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.01%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.25%.
The oil and natural gas transportation and power transmission company's shares have seen a decrease of 5.34% over the last month, not keeping up with the Oils-Energy sector's loss of 0.43% and the S&P 500's loss of 1.6%.
Analysts and investors alike will be keeping a close eye on the performance of Enbridge in its upcoming earnings disclosure. The company's earnings report is set to go public on November 3, 2023. The company's upcoming EPS is projected at $0.44, signifying a 13.73% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $8.31 billion, down 6.32% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $2.27 per share and a revenue of $34.29 billion, demonstrating changes of +5.09% and -16.43%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Enbridge. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, there's been a 0.95% fall in the Zacks Consensus EPS estimate. Currently, Enbridge is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Enbridge is presently being traded at a Forward P/E ratio of 14.6. This signifies a discount in comparison to the average Forward P/E of 15.13 for its industry.
We can additionally observe that ENB currently boasts a PEG ratio of 2.43. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Production and Pipelines was holding an average PEG ratio of 5.05 at yesterday's closing price.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 38% echelons 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 ENB in the coming trading sessions, be sure to utilize Zacks.com.