DXP Enterprises (DXPE) ended the recent trading session at $151.66, demonstrating a +1.92% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.62%. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 0.83%.
Heading into today, shares of the industrial products supplier had gained 9.3% over the past month, outpacing the Industrial Products sector's gain of 3.89% and the S&P 500's gain of 0.8%.
The investment community will be paying close attention to the earnings performance of DXP Enterprises in its upcoming release. The company is expected to report EPS of $1.38, up 9.52% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $530 million, reflecting a 11.21% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $6.2 per share and a revenue of $2.22 billion, demonstrating changes of +14.39% and +10.1%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for DXP Enterprises. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 17.2% higher. At present, DXP Enterprises boasts a Zacks Rank of #1 (Strong Buy).
Looking at valuation, DXP Enterprises is presently trading at a Forward P/E ratio of 24. This indicates a premium in contrast to its industry's Forward P/E of 23.87.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 79, positioning it in the top 33% 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.
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).