Sunoco LP (SUN) closed at $59.20 in the latest trading session, marking a +1.02% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 1.97%. Meanwhile, the Dow lost 1.69%, and the Nasdaq, a tech-heavy index, lost 2.7%.
The the stock of master limited partnership has risen by 0.96% in the past month, lagging the Oils-Energy sector's gain of 3.54% and overreaching the S&P 500's loss of 2.79%.
Market participants will be closely following the financial results of Sunoco LP in its upcoming release. On that day, Sunoco LP is projected to report earnings of $2.44 per share, which would represent year-over-year growth of 130.19%. Meanwhile, our latest consensus estimate is calling for revenue of $5.65 billion, up 2.67% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.10 per share and revenue of $22.71 billion. These totals would mark changes of +68.33% and +0.06%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Sunoco LP. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.94% lower. As of now, Sunoco LP holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Sunoco LP is currently exchanging hands at a Forward P/E ratio of 5.8. Its industry sports an average Forward P/E of 23.72, so one might conclude that Sunoco LP is trading at a discount comparatively.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 79, this industry ranks in the top 32% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
Want 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 ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
