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Why DXP Enterprises (DXPE) Dipped More Than Broader Market Today
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In the latest close session, DXP Enterprises (DXPE - Free Report) was down 2.1% at $165.50. The stock's performance was behind the S&P 500's daily loss of 1.44%. Meanwhile, the Dow experienced a drop of 0.09%, and the technology-dominated Nasdaq saw a decrease of 2.22%.
Prior to today's trading, shares of the industrial products supplier had gained 17.23% outpaced the Industrial Products sector's gain of 9.25% and the S&P 500's gain of 0.08%.
Analysts and investors alike will be keeping a close eye on the performance of DXP Enterprises in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.5, signifying a 4.90% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $548 million, showing a 9.89% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.2 per share and revenue of $2.22 billion, which would represent changes of +14.39% and +10.1%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for DXP Enterprises. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 witnessed an unchanged state. Right now, DXP Enterprises possesses a Zacks Rank of #3 (Hold).
Looking at valuation, DXP Enterprises is presently trading at a Forward P/E ratio of 27.27. This denotes a premium relative to the industry average Forward P/E of 26.11.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 90, finds itself in the top 37% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
View the Zacks #1 Rank List
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Why DXP Enterprises (DXPE) Dipped More Than Broader Market Today
In the latest close session, DXP Enterprises (DXPE - Free Report) was down 2.1% at $165.50. The stock's performance was behind the S&P 500's daily loss of 1.44%. Meanwhile, the Dow experienced a drop of 0.09%, and the technology-dominated Nasdaq saw a decrease of 2.22%.
Prior to today's trading, shares of the industrial products supplier had gained 17.23% outpaced the Industrial Products sector's gain of 9.25% and the S&P 500's gain of 0.08%.
Analysts and investors alike will be keeping a close eye on the performance of DXP Enterprises in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.5, signifying a 4.90% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $548 million, showing a 9.89% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.2 per share and revenue of $2.22 billion, which would represent changes of +14.39% and +10.1%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for DXP Enterprises. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 witnessed an unchanged state. Right now, DXP Enterprises possesses a Zacks Rank of #3 (Hold).
Looking at valuation, DXP Enterprises is presently trading at a Forward P/E ratio of 27.27. This denotes a premium relative to the industry average Forward P/E of 26.11.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 90, finds itself in the top 37% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.