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Sunoco LP (SUN) Stock Moves -1.4%: What You Should Know
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Sunoco LP (SUN - Free Report) ended the recent trading session at $53.35, demonstrating a -1.4% swing from the preceding day's closing price. This change was narrower than the S&P 500's 1.46% loss on the day. Meanwhile, the Dow lost 1.24%, and the Nasdaq, a tech-heavy index, lost 1.63%.
The master limited partnership's shares have seen a decrease of 10.77% over the last month, not keeping up with the Oils-Energy sector's gain of 8.14% and the S&P 500's gain of 1.6%.
The upcoming earnings release of Sunoco LP will be of great interest to investors. The company's earnings report is expected on May 8, 2024. In that report, analysts expect Sunoco LP to post earnings of $1.04 per share. This would mark a year-over-year decline of 26.24%. Meanwhile, the latest consensus estimate predicts the revenue to be $5.18 billion, indicating a 3.45% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.99 per share and revenue of $22.64 billion, which would represent changes of +36.71% and -1.88%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Sunoco LP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.36% higher. At present, Sunoco LP boasts a Zacks Rank of #2 (Buy).
Looking at valuation, Sunoco LP is presently trading at a Forward P/E ratio of 10.85. This indicates a discount in contrast to its industry's Forward P/E of 16.07.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 70, positioning it in the top 28% of all 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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Sunoco LP (SUN) Stock Moves -1.4%: What You Should Know
Sunoco LP (SUN - Free Report) ended the recent trading session at $53.35, demonstrating a -1.4% swing from the preceding day's closing price. This change was narrower than the S&P 500's 1.46% loss on the day. Meanwhile, the Dow lost 1.24%, and the Nasdaq, a tech-heavy index, lost 1.63%.
The master limited partnership's shares have seen a decrease of 10.77% over the last month, not keeping up with the Oils-Energy sector's gain of 8.14% and the S&P 500's gain of 1.6%.
The upcoming earnings release of Sunoco LP will be of great interest to investors. The company's earnings report is expected on May 8, 2024. In that report, analysts expect Sunoco LP to post earnings of $1.04 per share. This would mark a year-over-year decline of 26.24%. Meanwhile, the latest consensus estimate predicts the revenue to be $5.18 billion, indicating a 3.45% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.99 per share and revenue of $22.64 billion, which would represent changes of +36.71% and -1.88%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Sunoco LP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.36% higher. At present, Sunoco LP boasts a Zacks Rank of #2 (Buy).
Looking at valuation, Sunoco LP is presently trading at a Forward P/E ratio of 10.85. This indicates a discount in contrast to its industry's Forward P/E of 16.07.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 70, positioning it in the top 28% of all 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.