Wall Street analysts expect Oneok Inc. (OKE) to post quarterly earnings of $1.46 per share in its upcoming report, which indicates a year-over-year decline of 2%. Revenues are expected to be $11.77 billion, up 36.3% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 2.3% to its current level. This demonstrates the covering analysts’ collective reassessment of their initial projections during this period.
Ahead of a company’s earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it’s common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts’ forecasts for key metrics can yield valuable insights.
That said, let’s delve into the average estimates of some Oneok metrics that Wall Street analysts commonly model and monitor.
Analysts expect ‘Raw feed throughput – Natural Gas Liquids’ to come in at 1,622.48 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 1,574.00 thousands of barrels of oil per day.
The average prediction of analysts places ‘Adjusted EBITDA- Natural Gas Liquids’ at $739.00 million. The estimate compares to the year-ago value of $748.00 million.
The consensus among analysts is that ‘Adjusted EBITDA- Refined Products & Crude’ will reach $596.29 million. The estimate compares to the year-ago value of $582.00 million.
According to the collective judgment of analysts, ‘Adjusted EBITDA- Natural Gas Pipelines’ should come in at $227.08 million. The estimate compares to the year-ago value of $200.00 million.
Analysts’ assessment points toward ‘Adjusted EBITDA- Natural Gas Gathering and Processing’ reaching $568.12 million. Compared to the present estimate, the company reported $566.00 million in the same quarter last year.
View all Key Company Metrics for Oneok here>>>
Oneok shares have witnessed a change of +3% in the past month, in contrast to the Zacks S&P 500 composite’s -1.2% move. With a Zacks Rank #3 (Hold), OKE is expected closely follow the overall market performance in the near term. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
