In the latest close session, Oneok Inc. (OKE) was down 1.99% at $86.86. This change lagged the S&P 500’s 0.17% loss on the day. Elsewhere, the Dow saw a downswing of 0.26%, while the tech-heavy Nasdaq depreciated by 0.09%.
Coming into today, shares of the natural gas company had lost 7.7% in the past month. In that same time, the Oils-Energy sector gained 0.04%, while the S&P 500 lost 0.24%.
The investment community will be paying close attention to the earnings performance of Oneok Inc. in its upcoming release. In that report, analysts expect Oneok Inc. to post earnings of $1.46 per share. This would mark a year-over-year decline of 2.01%. In the meantime, our current consensus estimate forecasts the revenue to be $11.77 billion, indicating a 36.34% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.69 per share and a revenue of $43.83 billion, representing changes of +4.98% and +30.34%, respectively, from the prior year.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 1.88% downward. Oneok Inc. currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Oneok Inc. is currently being traded at a Forward P/E ratio of 15.56. Its industry sports an average Forward P/E of 13.7, so one might conclude that Oneok Inc. is trading at a premium comparatively.
Investors should also note that OKE has a PEG ratio of 2.53 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth rate. Oil and Gas – Production Pipeline – MLB stocks are, on average, holding a PEG ratio of 1.94 based on yesterday’s closing prices.
The Oil and Gas – Production Pipeline – MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 57, putting it in the top 24% of all 250+ industries.
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
