In the latest close session, DXP Enterprises (DXPE) was down 2.68% at $128.55. The stock trailed the S&P 500, which registered a daily gain of 0.03%. Elsewhere, the Dow saw a downswing of 0.58%, while the tech-heavy Nasdaq appreciated by 0.28%.
Coming into today, shares of the industrial products supplier had gained 14.86% in the past month. In that same time, the Industrial Products sector gained 7.83%, while the S&P 500 gained 0.6%.
The investment community will be paying close attention to the earnings performance of DXP Enterprises in its upcoming release. It is anticipated that the company will report an EPS of $0.91, marking a 34.06% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $498.31 million, up 5.82% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.03 per share and revenue of $1.99 billion, indicating changes of +11.53% and 0%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for DXP Enterprises. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. DXP Enterprises is currently a Zacks Rank #2 (Buy).
In the context of valuation, DXP Enterprises is at present trading with a Forward P/E ratio of 24.97. This indicates a premium in contrast to its industry's Forward P/E of 23.83.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 154, which puts it in the bottom 38% 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.
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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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