In the latest close session, DXP Enterprises (DXPE) was up +1.9% at $120.50. The stock's change was more than the S&P 500's daily gain of 1.56%. Elsewhere, the Dow gained 1.29%, while the tech-heavy Nasdaq added 2.21%.
Prior to today's trading, shares of the industrial products supplier had gained 0.16% outpaced the Industrial Products sector's loss of 1.1% and lagged the S&P 500's gain of 0.41%.
Market participants will be closely following the financial results of DXP Enterprises in its upcoming release. The company is predicted to post an EPS of $1.45, indicating a 1.4% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $510 million, indicating a 7.84% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.75 per share and a revenue of $1.94 billion, indicating changes of +5.32% and +7.88%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for DXP Enterprises. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 5.47% decrease. DXP Enterprises currently has a Zacks Rank of #3 (Hold).
With respect to valuation, DXP Enterprises is currently being traded at a Forward P/E ratio of 24.9. This valuation marks a premium compared to its industry average Forward P/E of 22.57.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 45, placing it within the top 19% of over 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.
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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DXP Enterprises, Inc. (DXPE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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