In the latest trading session, Equinor (EQNR) closed at $28.22, marking a +1.29% move from the previous day.The stock outpaced the S&P 500’s daily gain of 0.62%.Elsewhere, the Dow gained 0.5%, while the tech-heavy Nasdaq lost 5.66%.
Prior to today’s trading, shares of the oil and gas company had lost 4.56% over the past month.This has lagged the Oils-Energy sector’s gain of 2.66% and the S&P 500’s gain of 3.44% in that time.
Wall Street will be looking for positivity from Equinor as it approaches its next earnings report date.The company is expected to report EPS of $0.90, down 42.31% from the prior-year quarter.Our most recent consensus estimate is calling for quarterly revenue of $42.78 billion, up 17.56% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.55 per share and revenue of $179.5 billion.These totals would mark changes of -36.19% and +19.35%, respectively, from last year.
Any recent changes to analyst estimates for Equinor should also be noted by investors.Recent revisions tend to reflect the latest near-term business trends.
As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
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.
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 moved 2.15% lower.Equinor is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Equinor’s current valuation metrics, including its Forward P/E ratio of 6.12.For comparison, its industry has an average Forward P/E of 7, which means Equinor is trading at a discount to the group.
Investors should also note that EQNR has a PEG ratio of 0.83 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.The Oil and Gas – Refining and Marketing was holding an average PEG ratio of 0.84 at yesterday’s closing price.
The Oil and Gas – Refining and Marketing industry is part of the Oils-Energy sector.This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow EQNR in the coming trading sessions, be sure to utilize Zacks.com.
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