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Here's Why Shell (SHEL) Gained But Lagged the Market Today
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In the latest market close, Shell (SHEL - Free Report) reached $61.18, with a +0.11% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.22%. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.32%.
Heading into today, shares of the oil and gas company had lost 7.14% over the past month, lagging the Oils-Energy sector's loss of 5.7% and the S&P 500's gain of 1.61% in that time.
Market participants will be closely following the financial results of Shell in its upcoming release. The company plans to announce its earnings on February 1, 2024. The company's earnings per share (EPS) are projected to be $1.94, reflecting a 29.71% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $89.59 billion, down 11.46% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Shell. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.94% lower. Shell is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Shell is holding a Forward P/E ratio of 7.51. This denotes a premium relative to the industry's average Forward P/E of 6.11.
It's also important to note that SHEL currently trades at a PEG ratio of 0.81. 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 average PEG ratio for the Oil and Gas - Integrated - International industry stood at 0.81 at the close of the market yesterday.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 163, placing it within the bottom 36% of over 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.
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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Here's Why Shell (SHEL) Gained But Lagged the Market Today
In the latest market close, Shell (SHEL - Free Report) reached $61.18, with a +0.11% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.22%. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.32%.
Heading into today, shares of the oil and gas company had lost 7.14% over the past month, lagging the Oils-Energy sector's loss of 5.7% and the S&P 500's gain of 1.61% in that time.
Market participants will be closely following the financial results of Shell in its upcoming release. The company plans to announce its earnings on February 1, 2024. The company's earnings per share (EPS) are projected to be $1.94, reflecting a 29.71% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $89.59 billion, down 11.46% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Shell. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.94% lower. Shell is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Shell is holding a Forward P/E ratio of 7.51. This denotes a premium relative to the industry's average Forward P/E of 6.11.
It's also important to note that SHEL currently trades at a PEG ratio of 0.81. 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 average PEG ratio for the Oil and Gas - Integrated - International industry stood at 0.81 at the close of the market yesterday.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 163, placing it within the bottom 36% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.