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Sunoco LP (SUN) Stock Falls Amid Market Uptick: What Investors Need to Know

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In the latest trading session, Sunoco LP (SUN - Free Report) closed at $69.89, marking a -6.48% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.66% for the day. Elsewhere, the Dow gained 0.18%, while the tech-heavy Nasdaq added 1.05%.

The master limited partnership's shares have seen a decrease of 1.15% over the last month, surpassing the Oils-Energy sector's loss of 2.73% and falling behind the S&P 500's gain of 0.55%.

Market participants will be closely following the financial results of Sunoco LP in its upcoming release. The company is predicted to post an EPS of $2.96, indicating a 362.5% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $12.14 billion, up 101.28% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $9.58 per share and a revenue of $46.26 billion, demonstrating changes of +320.18% and +83.57%, respectively, from the preceding year.

It is also important to note the recent changes to analyst estimates for Sunoco LP. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.04% lower within the past month. Sunoco LP presently features a Zacks Rank of #3 (Hold).

Digging into valuation, Sunoco LP currently has a Forward P/E ratio of 7.8. This signifies a discount in comparison to the average Forward P/E of 11.3 for 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 7, which puts it in the top 3% 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.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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