Eni SpA (E) closed the most recent trading day at $31.19, moving +1.2% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.1%. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 6.59%.
Prior to today's trading, shares of the energy company had gained 7.69% over the past month. This has outpaced the Oils-Energy sector's gain of 2.39% and the S&P 500's gain of 4.58% in that time.
Investors will be hoping for strength from Eni SpA as it approaches its next earnings release. In that report, analysts expect Eni SpA to post earnings of $2.04 per share. This would mark year-over-year growth of 53.38%.
Investors might also notice recent changes to analyst estimates for Eni SpA. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.27% higher. Eni SpA is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Eni SpA has a Forward P/E ratio of 4.94 right now. For comparison, its industry has an average Forward P/E of 5.25, which means Eni SpA is trading at a discount to the group.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 41% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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