Equinor (EQNR) closed the most recent trading day at $29.30, moving -0.17% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.25%. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq lost 1.88%.
Heading into today, shares of the oil and gas company had lost 2.49% over the past month, outpacing the Oils-Energy sector's loss of 3.35% and lagging the S&P 500's gain of 1.48% 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 $1.41, down 11.88% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $24.73 billion, down 31.41% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.55 per share and revenue of $186.3 billion, which would represent changes of -22.16% and +23.87%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Equinor. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 1.01% lower. Equinor is currently a Zacks Rank #3 (Hold).
Investors should also note Equinor's current valuation metrics, including its Forward P/E ratio of 5.29. Its industry sports an average Forward P/E of 6.19, so we one might conclude that Equinor is trading at a discount comparatively.
Also, we should mention that EQNR has a PEG ratio of 0.71. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Refining and Marketing industry currently had an average PEG ratio of 0.71 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 41, which puts it in the top 17% 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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