DXP Enterprises (DXPE) closed at $129.93 in the latest trading session, marking a +1.2% move from the prior day. This change outpaced the S&P 500's 0.13% loss on the day. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, lost 0.72%.
The industrial products supplier's stock has climbed by 16.94% in the past month, exceeding the Industrial Products sector's gain of 6.7% and the S&P 500's gain of 0.78%.
The investment community will be paying close attention to the earnings performance of DXP Enterprises in its upcoming release. The company's upcoming EPS is projected at $0.91, signifying a 34.06% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $498.31 million, up 5.82% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.03 per share and revenue of $1.99 billion. These totals would mark changes of +11.53% and 0%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for DXP Enterprises. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, DXP Enterprises boasts a Zacks Rank of #2 (Buy).
Investors should also note DXP Enterprises's current valuation metrics, including its Forward P/E ratio of 24.27. This valuation marks a premium compared to its industry average Forward P/E of 23.45.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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DXP Enterprises, Inc. (DXPE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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