In its upcoming report, Oneok Inc. (OKE) is predicted by Wall Street analysts to post quarterly earnings of $1.49 per share, reflecting a decline of 5.1% compared to the same period last year. Revenues are forecasted to be $9.49 billion, representing a year-over-year increase of 35.6%.
The consensus EPS estimate for the quarter has undergone a downward revision of 2.6% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
With that in mind, let's delve into the average projections of some Oneok metrics that are commonly tracked and projected by analysts on Wall Street.
It is projected by analysts that the 'Revenues- Natural Gas Gathering and processing' will reach $1.46 billion. The estimate points to a change of -20.1% from the year-ago quarter.
According to the collective judgment of analysts, 'Revenues- Natural Gas Pipelines' should come in at $355.94 million. The estimate indicates a year-over-year change of +17.5%.
The consensus estimate for 'Revenues- Refined Products & Crude' stands at $2.29 billion. The estimate indicates a change of +39.4% from the prior-year quarter.
Analysts predict that the 'Revenues- Natural gas liquids' will reach $2.47 billion. The estimate indicates a year-over-year change of -45.3%.
The average prediction of analysts places 'Raw feed throughput - Natural Gas Liquids' at 1,650.68 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 1,306.00 thousands of barrels of oil per day.
Analysts' assessment points toward 'Adjusted EBITDA- Natural Gas Liquids' reaching $781.79 million. Compared to the current estimate, the company reported $696.00 million in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Adjusted EBITDA- Refined Products & Crude' will likely reach $608.12 million. The estimate is in contrast to the year-ago figure of $603.00 million.
The consensus among analysts is that 'Adjusted EBITDA- Natural Gas Pipelines' will reach $224.21 million. The estimate is in contrast to the year-ago figure of $417.00 million.
Analysts expect 'Adjusted EBITDA- Natural Gas Gathering and Processing' to come in at $574.43 million. The estimate is in contrast to the year-ago figure of $489.00 million.
View all Key Company Metrics for Oneok here>>>
Shares of Oneok have demonstrated returns of +15.6% over the past month compared to the Zacks S&P 500 composite's -1.3% change. With a Zacks Rank #4 (Sell), OKE is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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ONEOK, Inc. (OKE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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