Why the Market Dipped But Sunoco LP (SUN) Gained Today
Sunoco LP (SUN) ended the recent trading session at $53.13, demonstrating a +0.08% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.13%. On the other hand, the Dow registered a gain of 0.33%, and the technology-centric Nasdaq decreased by 0.39%.
Heading into today, shares of the master limited partnership had lost 3.16% over the past month, outpacing the Oils-Energy sector's loss of 4.69% and lagging the S&P 500's gain of 2.43% in that time.
The investment community will be paying close attention to the earnings performance of Sunoco LP in its upcoming release. The company is expected to report EPS of $1.56, down 47.12% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $5.97 billion, showing a 5.58% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $9.29 per share and a revenue of $23.72 billion, demonstrating changes of +154.52% and +2.82%, respectively, from the preceding year.
Any recent changes to analyst estimates for Sunoco LP should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has shifted 15.49% upward. Sunoco LP is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Sunoco LP is at present trading with a Forward P/E ratio of 5.71. This valuation marks a discount compared to its industry's average Forward P/E of 18.99.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 212, positioning it in the bottom 17% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Sunoco LP (SUN) : Free Stock Analysis Report