Equinor (EQNR) closed the most recent trading day at $29.38, moving +1.31% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.41%. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, lost 4.08%.
Heading into today, shares of the oil and gas company had gained 1.26% over the past month, lagging the Oils-Energy sector's gain of 3.28% and the S&P 500's gain of 6.51% in that time.
Wall Street will be looking for positivity from Equinor as it approaches its next earnings report date. In that report, analysts expect Equinor to post earnings of $1.17 per share. This would mark a year-over-year decline of 26.88%. Our most recent consensus estimate is calling for quarterly revenue of $24.73 billion, down 31.41% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.09 per share and revenue of $186.3 billion, which would represent changes of -28.61% and +23.87%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Equinor. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 9.27% lower. Equinor is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Equinor is holding a Forward P/E ratio of 5.7. This represents a discount compared to its industry's average Forward P/E of 6.67.
Also, we should mention that EQNR has a PEG ratio of 0.77. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Refining and Marketing industry currently had an average PEG ratio of 0.77 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 14% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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