NGL Energy Partners LP (NGL - Free Report) closed the most recent trading day at $13.63, moving -1.73% from the previous trading session. This change lagged the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq lost 0.5%.
Heading into today, shares of the company had lost 2.39% over the past month, lagging the Oils-Energy sector's loss of 2.18% and the S&P 500's gain of 2.62% in that time.
Investors will be hoping for strength from NGL as it approaches its next earnings release. On that day, NGL is projected to report earnings of $0.27 per share, which would represent a year-over-year decline of 61.97%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.13 billion, up 19.87% from the year-ago period.
Investors might also notice recent changes to analyst estimates for NGL. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 5.41% lower within the past month. NGL is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note NGL's current valuation metrics, including its Forward P/E ratio of 31.7. For comparison, its industry has an average Forward P/E of 15.15, which means NGL is trading at a premium to the group.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 231, putting it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.