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Oneok Inc. (OKE) Suffers a Larger Drop Than the General Market: Key Insights
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In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $85.73, marking a -1.39% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.22%. On the other hand, the Dow registered a loss of 0.03%, and the technology-centric Nasdaq decreased by 0.66%.
Heading into today, shares of the natural gas company had gained 0.25% over the past month, outpacing the Oils-Energy sector's loss of 4.76% and the S&P 500's loss of 1.21%.
Analysts and investors alike will be keeping a close eye on the performance of Oneok Inc. in its upcoming earnings disclosure. The company is expected to report EPS of $1.41, up 5.22% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $10.81 billion, up 37.11% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.5 per share and revenue of $46.96 billion, which would represent changes of +1.48% and +39.64%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Oneok Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 remained steady. Oneok Inc. is currently a Zacks Rank #3 (Hold).
In the context of valuation, Oneok Inc. is at present trading with a Forward P/E ratio of 15.8. This signifies a premium in comparison to the average Forward P/E of 13.42 for its industry.
Meanwhile, OKE's PEG ratio is currently 6.75. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 1.3 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 44% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Oneok Inc. (OKE) Suffers a Larger Drop Than the General Market: Key Insights
In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $85.73, marking a -1.39% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.22%. On the other hand, the Dow registered a loss of 0.03%, and the technology-centric Nasdaq decreased by 0.66%.
Heading into today, shares of the natural gas company had gained 0.25% over the past month, outpacing the Oils-Energy sector's loss of 4.76% and the S&P 500's loss of 1.21%.
Analysts and investors alike will be keeping a close eye on the performance of Oneok Inc. in its upcoming earnings disclosure. The company is expected to report EPS of $1.41, up 5.22% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $10.81 billion, up 37.11% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.5 per share and revenue of $46.96 billion, which would represent changes of +1.48% and +39.64%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Oneok Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 remained steady. Oneok Inc. is currently a Zacks Rank #3 (Hold).
In the context of valuation, Oneok Inc. is at present trading with a Forward P/E ratio of 15.8. This signifies a premium in comparison to the average Forward P/E of 13.42 for its industry.
Meanwhile, OKE's PEG ratio is currently 6.75. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 1.3 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 44% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.