Texas Pacific (TPL) closed at $2,108.49 in the latest trading session, marking a +0.67% move from the prior day. The stock outpaced the S&P 500’s daily gain of 0.4%. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 1.1%.
Coming into today, shares of the landowner had lost 20.89% in the past month. In that same time, the Oils-Energy sector gained 5.03%, while the S&P 500 lost 0.01%.
Investors will be hoping for strength from Texas Pacific as it approaches its next earnings release. The company is expected to report EPS of $15.14, up 48.29% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $185.21 million, up 25.84% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Texas Pacific. 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 company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Texas Pacific is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Texas Pacific currently has a Forward P/E ratio of 33.13. This valuation marks a premium compared to its industry’s average Forward P/E of 25.4.
The Alternative Energy – Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 187, putting it in the bottom 26% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Just Released: Free Report Reveals Little-Known Strategies to Help Profit from the $30 Trillion Metaverse Boom
It’s undeniable. The metaverse is gaining steam every day. Just follow the money. Google. Microsoft. Adobe. Nike. Facebook even rebranded itself as Meta because Mark Zuckerberg believes the metaverse is the next iteration of the internet. The inevitable result? Many investors will get rich as the metaverse evolves. What do they know that you don’t? They’re aware of the companies best poised to grow as the metaverse does. And in a new FREE report, Zacks is revealing those stocks to you. This week, you can download, The Metaverse – What is it? And How to Profit with These 5 Pioneering Stocks. It reveals specific stocks set to skyrocket as this emerging technology develops and expands. Don’t miss your chance to access it for free with no obligation.
>>Show me how I could profit from the metaverse!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Texas Pacific Land Corporation (TPL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Credit: Source link
