Sunoco LP (SUN) Rises But Trails Market: What Investors Should Know

Sunoco LP (SUN) ended the recent trading session at $50.91, demonstrating a +0.22% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.41%. Elsewhere, the Dow saw an upswing of 0.69%, while the tech-heavy Nasdaq appreciated by 0.8%.

The master limited partnership's stock has dropped by 4.3% in the past month, falling short of the Oils-Energy sector's loss of 0.13% and the S&P 500's loss of 0.97%.

Market participants will be closely following the financial results of Sunoco LP in its upcoming release. The company plans to announce its earnings on November 6, 2024. In that report, analysts expect Sunoco LP to post earnings of $1.53 per share. This would mark a year-over-year decline of 48.14%. At the same time, our most recent consensus estimate is projecting a revenue of $5.97 billion, reflecting a 5.56% fall from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of $9.28 per share and a revenue of $23.72 billion, demonstrating changes of +154.25% and +2.84%, respectively, from the preceding year.

Any recent changes to analyst estimates for Sunoco LP should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate has moved 0.19% lower within the past month. Sunoco LP is currently sporting a Zacks Rank of #3 (Hold).

Looking at valuation, Sunoco LP is presently trading at a Forward P/E ratio of 5.48. This denotes a discount relative to the industry's average Forward P/E of 17.87.

The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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