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Plains All American Pipeline (PAA) Gains As Market Dips: What You Should Know
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In the latest trading session, Plains All American Pipeline (PAA - Free Report) closed at $17.70, marking a +0.8% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.2%. Elsewhere, the Dow saw a downswing of 0.6%, while the tech-heavy Nasdaq appreciated by 0.11%.
The oil and gas transportation and storage company's shares have seen an increase of 5.85% over the last month, not keeping up with the Oils-Energy sector's gain of 7.33% and outstripping the S&P 500's gain of 3.32%.
Market participants will be closely following the financial results of Plains All American Pipeline in its upcoming release. The company is predicted to post an EPS of $0.37, indicating a 9.76% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $13.4 billion, reflecting an 8.6% rise from the equivalent quarter last year.
PAA's full-year Zacks Consensus Estimates are calling for earnings of $1.24 per share and revenue of $54.01 billion. These results would represent year-over-year changes of -12.68% and +10.87%, respectively.
It is also important to note the recent changes to analyst estimates for Plains All American Pipeline. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.59% lower. Plains All American Pipeline presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Plains All American Pipeline is at present trading with a Forward P/E ratio of 14.16. This denotes a premium relative to the industry's average Forward P/E of 12.97.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 191, this industry ranks in the bottom 25% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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
In the latest trading session, Plains All American Pipeline (PAA - Free Report) closed at $17.70, marking a +0.8% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.2%. Elsewhere, the Dow saw a downswing of 0.6%, while the tech-heavy Nasdaq appreciated by 0.11%.
The oil and gas transportation and storage company's shares have seen an increase of 5.85% over the last month, not keeping up with the Oils-Energy sector's gain of 7.33% and outstripping the S&P 500's gain of 3.32%.
Market participants will be closely following the financial results of Plains All American Pipeline in its upcoming release. The company is predicted to post an EPS of $0.37, indicating a 9.76% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $13.4 billion, reflecting an 8.6% rise from the equivalent quarter last year.
PAA's full-year Zacks Consensus Estimates are calling for earnings of $1.24 per share and revenue of $54.01 billion. These results would represent year-over-year changes of -12.68% and +10.87%, respectively.
It is also important to note the recent changes to analyst estimates for Plains All American Pipeline. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.59% lower. Plains All American Pipeline presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Plains All American Pipeline is at present trading with a Forward P/E ratio of 14.16. This denotes a premium relative to the industry's average Forward P/E of 12.97.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 191, this industry ranks in the bottom 25% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.