Oneok Inc. (OKE) ended the recent trading session at $91.80, demonstrating a -1.78% change from the preceding day’s closing price. This move lagged the S&P 500’s daily gain of 1.49%. Meanwhile, the Dow gained 0.71%, and the Nasdaq, a tech-heavy index, added 2.26%.
Shares of the natural gas company have appreciated by 0.14% over the course of the past month, underperforming the Oils-Energy sector’s gain of 0.51%, and outperforming the S&P 500’s gain of 0.1%.
The investment community will be paying close attention to the earnings performance of Oneok Inc. in its upcoming release. The company is expected to report EPS of $1.45, down 2.68% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.77 billion, up 36.34% from the year-ago period.
OKE’s full-year Zacks Consensus Estimates are calling for earnings of $5.7 per share and revenue of $43.83 billion. These results would represent year-over-year changes of +5.17% and +30.34%, respectively.
Investors should also note any recent changes to analyst estimates for Oneok Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.49% lower. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 16.39. This valuation marks a premium compared to its industry average Forward P/E of 14.57.
Meanwhile, OKE’s PEG ratio is currently 2.67. 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 Pipeline – MLB industry had an average PEG ratio of 2.05 as trading concluded yesterday.
The Oil and Gas – Production Pipeline – MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 80, putting it in the top 33% of all 250+ industries.
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
