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Marathon Petroleum (MPC) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Marathon Petroleum (MPC - Free Report) closed the most recent trading day at $208.77, moving -1.65% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 1.46% for the day. Elsewhere, the Dow lost 1.24%, while the tech-heavy Nasdaq lost 1.63%.
The the stock of refiner has risen by 12.32% in the past month, leading the Oils-Energy sector's gain of 8.14% and the S&P 500's gain of 1.6%.
The investment community will be paying close attention to the earnings performance of Marathon Petroleum in its upcoming release. The company is slated to reveal its earnings on April 30, 2024. It is anticipated that the company will report an EPS of $2.31, marking a 62.07% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $31.26 billion, showing a 10.88% drop compared to the year-ago quarter.
MPC's full-year Zacks Consensus Estimates are calling for earnings of $17.53 per share and revenue of $128.02 billion. These results would represent year-over-year changes of -25.81% and -14.83%, respectively.
It is also important to note the recent changes to analyst estimates for Marathon Petroleum. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. The Zacks Consensus EPS estimate has moved 20.78% higher within the past month. Marathon Petroleum is currently a Zacks Rank #3 (Hold).
With respect to valuation, Marathon Petroleum is currently being traded at a Forward P/E ratio of 12.11. This signifies a discount in comparison to the average Forward P/E of 12.33 for its industry.
Meanwhile, MPC's PEG ratio is currently 2.02. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Refining and Marketing was holding an average PEG ratio of 1.9 at yesterday's closing price.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Marathon Petroleum (MPC) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Marathon Petroleum (MPC - Free Report) closed the most recent trading day at $208.77, moving -1.65% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 1.46% for the day. Elsewhere, the Dow lost 1.24%, while the tech-heavy Nasdaq lost 1.63%.
The the stock of refiner has risen by 12.32% in the past month, leading the Oils-Energy sector's gain of 8.14% and the S&P 500's gain of 1.6%.
The investment community will be paying close attention to the earnings performance of Marathon Petroleum in its upcoming release. The company is slated to reveal its earnings on April 30, 2024. It is anticipated that the company will report an EPS of $2.31, marking a 62.07% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $31.26 billion, showing a 10.88% drop compared to the year-ago quarter.
MPC's full-year Zacks Consensus Estimates are calling for earnings of $17.53 per share and revenue of $128.02 billion. These results would represent year-over-year changes of -25.81% and -14.83%, respectively.
It is also important to note the recent changes to analyst estimates for Marathon Petroleum. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. The Zacks Consensus EPS estimate has moved 20.78% higher within the past month. Marathon Petroleum is currently a Zacks Rank #3 (Hold).
With respect to valuation, Marathon Petroleum is currently being traded at a Forward P/E ratio of 12.11. This signifies a discount in comparison to the average Forward P/E of 12.33 for its industry.
Meanwhile, MPC's PEG ratio is currently 2.02. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Refining and Marketing was holding an average PEG ratio of 1.9 at yesterday's closing price.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.