In the latest trading session, Enterprise Products Partners (EPD - Free Report) closed at $18.12, marking a -0.11% move from the previous day. This change lagged the S&P 500's daily gain of 1.1%. At the same time, the Dow added 1.18%, and the tech-heavy Nasdaq gained 1.09%.
Wall Street will be looking for positivity from EPD as it approaches its next earnings report date. In that report, analysts expect EPD to post earnings of $0.45 per share. This would mark a year-over-year decline of 18.18%. Meanwhile, our latest consensus estimate is calling for revenue of $6.83 billion, down 17.43% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.02 per share and revenue of $29.75 billion, which would represent changes of -6.05% and -9.28%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for EPD. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 past month, the Zacks Consensus EPS estimate has moved 2.54% higher. EPD is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that EPD has a Forward P/E ratio of 9 right now. This represents a no noticeable deviation compared to its industry's average Forward P/E of 9.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 22, which puts it in the top 9% 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.
To follow EPD in the coming trading sessions, be sure to utilize Zacks.com.