In the latest trading session, Sunoco LP (SUN) closed at $75.06, marking a +2.65% move from the previous day. This change outpaced the S&P 500's 0.76% loss on the day. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 1.13%.
Shares of the master limited partnership witnessed a loss of 1.98% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 1.06%, and the S&P 500's gain of 1.26%.
Analysts and investors alike will be keeping a close eye on the performance of Sunoco LP in its upcoming earnings disclosure. The company is predicted to post an EPS of $2.96, indicating a 362.5% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12.14 billion, up 101.28% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $9.58 per share and revenue of $46.26 billion, which would represent changes of +320.18% and +83.57%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Sunoco LP. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 3.04% fall in the Zacks Consensus EPS estimate. Sunoco LP is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Sunoco LP is presently trading at a Forward P/E ratio of 7.64. This signifies a discount in comparison to the average Forward P/E of 11.7 for its industry.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 9, finds itself in the top 4% echelons 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
Of course, all our elite picks aren't winners, but this one could far surpass earlier Zacks' Stocks Set to Double like D-Wave Quantum, which shot up +680.1%.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Sunoco LP (SUN): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).