The most recent trading session ended with Enbridge (ENB) standing at $41.87, reflecting a +0.17% shift from the previouse trading day's closing. This change lagged the S&P 500's 1.1% gain on the day. Elsewhere, the Dow saw an upswing of 0.91%, while the tech-heavy Nasdaq appreciated by 1.35%.
Heading into today, shares of the oil and natural gas transportation and power transmission company had lost 2.68% over the past month, outpacing the Oils-Energy sector's loss of 10.32% and lagging the S&P 500's gain of 0.22% in that time.
Investors will be eagerly watching for the performance of Enbridge in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.52, indicating a 10.64% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $4.78 billion, down 42.87% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.03 per share and a revenue of $31.84 billion, signifying shifts of -1.93% and -1.73%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Enbridge. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.49% lower. As of now, Enbridge holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Enbridge is holding a Forward P/E ratio of 20.64. Its industry sports an average Forward P/E of 15.95, so one might conclude that Enbridge is trading at a premium comparatively.
We can also see that ENB currently has a PEG ratio of 4.13. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. ENB's industry had an average PEG ratio of 3.38 as of yesterday's close.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 188, placing it within the bottom 26% of over 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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