Enbridge (ENB) closed at $29.60 in the latest trading session, marking a +0.03% move from the prior day. This move lagged the S&P 500's daily gain of 1.05%. Elsewhere, the Dow gained 1.44%, while the tech-heavy Nasdaq added 0.66%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had lost 2.79% over the past month. This has was narrower than the Oils-Energy sector's loss of 16.09% and lagged the S&P 500's loss of 1.56% in that time.
Wall Street will be looking for positivity from ENB as it approaches its next earnings report date. The company is expected to report EPS of $0.40, down 20% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $8.32 billion, down 16.09% from the year-ago period.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $1.91 per share and revenue of $32.63 billion. These results would represent year-over-year changes of -4.5% and -13.51%, respectively.
It is also important to note the recent changes to analyst estimates for ENB. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.15% higher. ENB is currently a Zacks Rank #2 (Buy).
Digging into valuation, ENB currently has a Forward P/E ratio of 15.53. Its industry sports an average Forward P/E of 15.9, so we one might conclude that ENB is trading at a discount comparatively.
We can also see that ENB currently has a PEG ratio of 1.61. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Production and Pipelines was holding an average PEG ratio of 4.73 at yesterday's closing price.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 79, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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