In the latest close session, Sunoco LP (SUN) was down 2.69% at $72.61. The stock's change was less than the S&P 500's daily loss of 0.17%. Meanwhile, the Dow experienced a drop of 0.26%, and the technology-dominated Nasdaq saw a decrease of 0.09%.
The master limited partnership's stock has dropped by 1.87% in the past month, falling short of the Oils-Energy sector's gain of 0.04% and the S&P 500's loss of 0.24%.
The upcoming earnings release of Sunoco LP will be of great interest to investors. The company is predicted to post an EPS of $2.96, indicating a 362.5% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $12.14 billion, indicating a 101.28% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.58 per share and a revenue of $46.26 billion, indicating changes of +320.18% and +83.57%, respectively, from the former year.
Any recent changes to analyst estimates for Sunoco LP should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.04% decrease. 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 7.79. This valuation marks a discount compared to its industry average Forward P/E of 10.78.
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 8, finds itself in the top 4% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SUN in the coming trading sessions, be sure to utilize Zacks.com.
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Sunoco LP (SUN): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).