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Marathon Petroleum (MPC) Declines More Than Market: Some Information for Investors
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Marathon Petroleum (MPC - Free Report) closed the latest trading day at $197.38, indicating a -1.23% change from the previous session's end. The stock fell short of the S&P 500, which registered a loss of 0.28% for the day. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, lost 0.42%.
The refiner's stock has climbed by 15.88% in the past month, exceeding the Oils-Energy sector's gain of 6.42% and the S&P 500's gain of 2.67%.
Analysts and investors alike will be keeping a close eye on the performance of Marathon Petroleum in its upcoming earnings disclosure. The company's earnings report is set to go public on April 30, 2024. The company is expected to report EPS of $2.04, down 66.5% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $31.65 billion, reflecting a 9.78% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $14.68 per share and revenue of $133.52 billion, indicating changes of -37.88% and -11.17%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Marathon Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 2.09% rise in the Zacks Consensus EPS estimate. As of now, Marathon Petroleum holds a Zacks Rank of #3 (Hold).
In terms of valuation, Marathon Petroleum is currently trading at a Forward P/E ratio of 13.61. This denotes a premium relative to the industry's average Forward P/E of 12.46.
It's also important to note that MPC currently trades at a PEG ratio of 2.27. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Oil and Gas - Refining and Marketing industry stood at 1.94 at the close of the market yesterday.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 91, finds itself in the top 37% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Marathon Petroleum (MPC) Declines More Than Market: Some Information for Investors
Marathon Petroleum (MPC - Free Report) closed the latest trading day at $197.38, indicating a -1.23% change from the previous session's end. The stock fell short of the S&P 500, which registered a loss of 0.28% for the day. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, lost 0.42%.
The refiner's stock has climbed by 15.88% in the past month, exceeding the Oils-Energy sector's gain of 6.42% and the S&P 500's gain of 2.67%.
Analysts and investors alike will be keeping a close eye on the performance of Marathon Petroleum in its upcoming earnings disclosure. The company's earnings report is set to go public on April 30, 2024. The company is expected to report EPS of $2.04, down 66.5% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $31.65 billion, reflecting a 9.78% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $14.68 per share and revenue of $133.52 billion, indicating changes of -37.88% and -11.17%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Marathon Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 2.09% rise in the Zacks Consensus EPS estimate. As of now, Marathon Petroleum holds a Zacks Rank of #3 (Hold).
In terms of valuation, Marathon Petroleum is currently trading at a Forward P/E ratio of 13.61. This denotes a premium relative to the industry's average Forward P/E of 12.46.
It's also important to note that MPC currently trades at a PEG ratio of 2.27. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Oil and Gas - Refining and Marketing industry stood at 1.94 at the close of the market yesterday.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 91, finds itself in the top 37% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.