The upcoming report from MPLX LP (MPLX) is expected to reveal quarterly earnings of $1.05 per share, indicating a decline of 4.6% compared to the year-ago period. Analysts forecast revenues of $3.18 billion, representing an increase of 1.9% year over year.
The current level reflects a downward revision of 1.1% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some MPLX LP metrics that Wall Street analysts commonly model and monitor.
It is projected by analysts that the 'Pipeline throughput - Crude oil pipelines' will reach 3,946.12 thousands of barrels of oil per day. The estimate compares to the year-ago value of 3,908.00 thousands of barrels of oil per day.
Analysts forecast 'Natural Gas Processed - Southwest Operations' to reach . The estimate is in contrast to the year-ago figure of .
The combined assessment of analysts suggests that 'Pipeline throughput - Total pipelines' will likely reach 5,957.94 thousands of barrels of oil per day. Compared to the present estimate, the company reported 5,928.00 thousands of barrels of oil per day in the same quarter last year.
The average prediction of analysts places 'Gathering throughput - Southwest Operations' at . The estimate is in contrast to the year-ago figure of .
The collective assessment of analysts points to an estimated 'Pipeline throughput - Product pipelines' of 2,011.82 thousands of barrels of oil per day. Compared to the current estimate, the company reported 2,020.00 thousands of barrels of oil per day in the same quarter of the previous year.
View all Key Company Metrics for MPLX LP here>>>Over the past month, shares of MPLX LP have returned -0.7% versus the Zacks S&P 500 composite's +12.2% change. Currently, MPLX carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).