DXP Enterprises (DXPE) closed at $151.75 in the latest trading session, marking a -1.86% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.8%. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, added 1.6%.
Coming into today, shares of the industrial products supplier had gained 16.14% in the past month. In that same time, the Industrial Products sector gained 8.08%, while the S&P 500 gained 5.15%.
Investors will be eagerly watching for the performance of DXP Enterprises in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.38, reflecting a 9.52% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $530 million, up 11.21% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.2 per share and a revenue of $2.22 billion, representing changes of +14.39% and +10.1%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for DXP Enterprises. 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. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. DXP Enterprises is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note DXP Enterprises's current valuation metrics, including its Forward P/E ratio of 24.94. This denotes a premium relative to the industry average Forward P/E of 24.17.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 149, positioning it in the bottom 39% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).