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Texas Pacific (TPL) Rises As Market Takes a Dip: Key Facts
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Texas Pacific (TPL - Free Report) closed the most recent trading day at $582.60, moving +0.03% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.88% for the day. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, lost 2.05%.
Heading into today, shares of the landowner had gained 2.78% over the past month, trading in line with the Oils-Energy sector and outpacing the S&P 500's loss of 2.57% in that time.
The investment community will be paying close attention to the earnings performance of Texas Pacific in its upcoming release. The company is slated to reveal its earnings on May 8, 2024. The company's earnings per share (EPS) are projected to be $4.75, reflecting a 26.67% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $163.7 million, showing a 11.85% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $20.72 per share and a revenue of $704.1 million, signifying shifts of +17.79% and +11.48%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Texas Pacific. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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 witnessed a 11.09% increase. Texas Pacific is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Texas Pacific currently has a Forward P/E ratio of 28.11. This valuation marks a premium compared to its industry's average Forward P/E of 24.59.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 71, 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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Texas Pacific (TPL) Rises As Market Takes a Dip: Key Facts
Texas Pacific (TPL - Free Report) closed the most recent trading day at $582.60, moving +0.03% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.88% for the day. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, lost 2.05%.
Heading into today, shares of the landowner had gained 2.78% over the past month, trading in line with the Oils-Energy sector and outpacing the S&P 500's loss of 2.57% in that time.
The investment community will be paying close attention to the earnings performance of Texas Pacific in its upcoming release. The company is slated to reveal its earnings on May 8, 2024. The company's earnings per share (EPS) are projected to be $4.75, reflecting a 26.67% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $163.7 million, showing a 11.85% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $20.72 per share and a revenue of $704.1 million, signifying shifts of +17.79% and +11.48%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Texas Pacific. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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 witnessed a 11.09% increase. Texas Pacific is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Texas Pacific currently has a Forward P/E ratio of 28.11. This valuation marks a premium compared to its industry's average Forward P/E of 24.59.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 71, 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.