Sunoco LP (SUN) closed at $56.11 in the latest trading session, marking a +1.12% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.65%. Elsewhere, the Dow saw an upswing of 0.48%, while the tech-heavy Nasdaq appreciated by 0.82%.
The master limited partnership's shares have seen an increase of 3.05% over the last month, surpassing the Oils-Energy sector's gain of 0.68% and the S&P 500's gain of 1.15%.
Analysts and investors alike will be keeping a close eye on the performance of Sunoco LP in its upcoming earnings disclosure. In that report, analysts expect Sunoco LP to post earnings of $1.7 per share. This would mark year-over-year growth of 126.67%. In the meantime, our current consensus estimate forecasts the revenue to be $9.65 billion, indicating a 83.05% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0 per share and a revenue of $25.98 billion, indicating changes of 0% and 0%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Sunoco LP. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, the Zacks Consensus EPS estimate has shifted 0.82% upward. Right now, Sunoco LP possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Sunoco LP is presently trading at a Forward P/E ratio of 7.48. Its industry sports an average Forward P/E of 16.1, 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. This group has a Zacks Industry Rank of 35, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
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