DXP Enterprises (DXPE) closed at $116.12 in the latest trading session, marking a -1.78% move from the prior day. This move lagged the S&P 500's daily gain of 0.49%. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq added 0.72%.
The industrial products supplier's stock has climbed by 1.76% in the past month, falling short of the Industrial Products sector's gain of 2.58% and the S&P 500's gain of 2.99%.
Analysts and investors alike will be keeping a close eye on the performance of DXP Enterprises in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.45, marking a 1.4% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $510 million, indicating a 7.84% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.03 per share and revenue of $1.94 billion, which would represent changes of +11.53% and +7.88%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for DXP Enterprises. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 witnessed a 5.19% decrease. DXP Enterprises is currently a Zacks Rank #3 (Hold).
In terms of valuation, DXP Enterprises is presently being traded at a Forward P/E ratio of 23.53. This denotes no noticeable deviation relative to the industry average Forward P/E of 23.53.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 55, positioning it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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DXP Enterprises, Inc. (DXPE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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