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Here's Why Texas Pacific (TPL) Gained But Lagged the Market Today
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Texas Pacific (TPL - Free Report) closed at $587.81 in the latest trading session, marking a +0.34% move from the prior day. The stock lagged the S&P 500's daily gain of 1.2%. Meanwhile, the Dow gained 0.69%, and the Nasdaq, a tech-heavy index, added 1.59%.
Shares of the landowner witnessed a gain of 1.91% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 3.58% and outperforming the S&P 500's loss of 4.16%.
The investment community will be closely monitoring the performance of Texas Pacific in its forthcoming earnings report. The company is scheduled to release its earnings on May 8, 2024. The company is predicted to post an EPS of $4.75, indicating a 26.67% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $163.7 million, indicating a 11.85% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $20.72 per share and a revenue of $704.1 million, demonstrating changes of +17.79% and +11.48%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Texas Pacific. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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.
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 last 30 days, the Zacks Consensus EPS estimate has moved 11.09% higher. Currently, Texas Pacific is carrying a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Texas Pacific currently has a Forward P/E ratio of 28.28. This signifies a premium in comparison to the average Forward P/E of 24.73 for its industry.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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Here's Why Texas Pacific (TPL) Gained But Lagged the Market Today
Texas Pacific (TPL - Free Report) closed at $587.81 in the latest trading session, marking a +0.34% move from the prior day. The stock lagged the S&P 500's daily gain of 1.2%. Meanwhile, the Dow gained 0.69%, and the Nasdaq, a tech-heavy index, added 1.59%.
Shares of the landowner witnessed a gain of 1.91% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 3.58% and outperforming the S&P 500's loss of 4.16%.
The investment community will be closely monitoring the performance of Texas Pacific in its forthcoming earnings report. The company is scheduled to release its earnings on May 8, 2024. The company is predicted to post an EPS of $4.75, indicating a 26.67% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $163.7 million, indicating a 11.85% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $20.72 per share and a revenue of $704.1 million, demonstrating changes of +17.79% and +11.48%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Texas Pacific. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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.
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 last 30 days, the Zacks Consensus EPS estimate has moved 11.09% higher. Currently, Texas Pacific is carrying a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Texas Pacific currently has a Forward P/E ratio of 28.28. This signifies a premium in comparison to the average Forward P/E of 24.73 for its industry.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.