Sprague Resources (SRLP) closed at $15.73 in the latest trading session, marking a -0.19% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.35%, and the tech-heavy Nasdaq lost 0.28%.
Coming into today, shares of the oil products and natural gas storage and distribution company had gained 3.96% in the past month. In that same time, the Oils-Energy sector lost 6.08%, while the S&P 500 gained 3.82%.
Wall Street will be looking for positivity from SRLP as it approaches its next earnings report date. On that day, SRLP is projected to report earnings of -$0.31 per share, which would represent year-over-year growth of 27.91%. Meanwhile, our latest consensus estimate is calling for revenue of $327.85 million, down 43.73% from the prior-year quarter.
SRLP's full-year Zacks Consensus Estimates are calling for earnings of $0.81 per share and revenue of $2.22 billion. These results would represent year-over-year changes of -26.36% and -36.72%, respectively.
Investors might also notice recent changes to analyst estimates for SRLP. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 moved 6.9% lower. SRLP is holding a Zacks Rank of #5 (Strong Sell) right now.
In terms of valuation, SRLP is currently trading at a Forward P/E ratio of 19.46. Its industry sports an average Forward P/E of 8.85, so we one might conclude that SRLP is trading at a premium comparatively.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 175, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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