Sunoco LP (SUN) Stock Sinks As Market Gains: What You Should Know

Sunoco LP (SUN) closed the most recent trading day at $64.31, moving -2.26% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.75% for the day. On the other hand, the Dow registered a gain of 1.86%, and the technology-centric Nasdaq increased by 2.54%. Shares of the master limited partnership witnessed a loss of 5.99% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 0.13%, and the S&P 500's loss of 1.63%.Market participants will be closely following the financial results of Sunoco LP in its upcoming release. The company's earnings per share (EPS) are projected to be $2.19, reflecting a 563.64% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $10.13 billion, reflecting a 87.85% rise from the equivalent quarter last year. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.92 per share and a revenue of $41.41 billion, indicating changes of +247.37% and +64.31%, respectively, from the former year. Investors might also notice recent changes to analyst estimates for Sunoco LP. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 past month, the Zacks Consensus EPS estimate has remained steady. As of now, Sunoco LP holds a Zacks Rank of #3 (Hold). Valuation is also important, so investors should note that Sunoco LP has a Forward P/E ratio of 8.31 right now. This signifies a discount in comparison to the average Forward P/E of 12.85 for its industry. The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 27, finds itself in the top 12% echelons of all 250+ industries. The Zacks Industry Rank gauges the strength of our 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. 7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks