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Sunoco LP (SUN) Stock Drops Despite Market Gains: Important Facts to Note
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The latest trading session saw Sunoco LP (SUN - Free Report) ending at $56.38, denoting a -0.46% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.02% for the day. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq added 0.1%.
Shares of the master limited partnership have depreciated by 6.41% over the course of the past month, underperforming the Oils-Energy sector's gain of 4.26% and the S&P 500's loss of 3.01%.
Market participants will be closely following the financial results of Sunoco LP in its upcoming release. The company plans to announce its earnings on May 8, 2024. The company is expected to report EPS of $1.04, down 26.24% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.09 billion, down 5.03% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.03 per share and a revenue of $22.24 billion, indicating changes of +37.81% and -3.59%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Sunoco LP. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 past month, the Zacks Consensus EPS estimate has shifted 1.31% upward. Sunoco LP presently features a Zacks Rank of #2 (Buy).
Looking at its valuation, Sunoco LP is holding a Forward P/E ratio of 11.27. This expresses a discount compared to the average Forward P/E of 16.08 of its industry.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Sunoco LP (SUN) Stock Drops Despite Market Gains: Important Facts to Note
The latest trading session saw Sunoco LP (SUN - Free Report) ending at $56.38, denoting a -0.46% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.02% for the day. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq added 0.1%.
Shares of the master limited partnership have depreciated by 6.41% over the course of the past month, underperforming the Oils-Energy sector's gain of 4.26% and the S&P 500's loss of 3.01%.
Market participants will be closely following the financial results of Sunoco LP in its upcoming release. The company plans to announce its earnings on May 8, 2024. The company is expected to report EPS of $1.04, down 26.24% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.09 billion, down 5.03% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.03 per share and a revenue of $22.24 billion, indicating changes of +37.81% and -3.59%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Sunoco LP. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 past month, the Zacks Consensus EPS estimate has shifted 1.31% upward. Sunoco LP presently features a Zacks Rank of #2 (Buy).
Looking at its valuation, Sunoco LP is holding a Forward P/E ratio of 11.27. This expresses a discount compared to the average Forward P/E of 16.08 of its industry.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.