In the latest market close, Phillips 66 (PSX) hit $158.76, marking a robust +1.13% surge from the previous day. Surpassing the S&P 500’s 0.89% uptick, the company’s upward momentum outpaced both the Dow’s 1.03% rise and the Nasdaq’s 1.25% gain.
Market Performance and Sector Comparison
Phillips 66’s shares have soared by 11.23% in the past month, outshining the Oils-Energy sector’s 5.25% growth and the S&P 500’s 3.56% upturn.
Upcoming Financial Results and Analyst Estimates
Investors eagerly anticipate Phillips 66’s earnings announcement on April 26, 2024, expecting an EPS of $2.60, a 38.24% decline from the previous year. Projections also estimate a 9.73% revenue decrease to $31.68 billion.
Full-year Zacks Consensus Estimates predict earnings of $12.55 per share and revenue of $133.87 billion, reflecting -20.62% and -10.69% changes year-over-year, respectively.
Important to note are recent analyst estimate modifications, directly impacting stock price performance. Favorable revisions suggest a positive outlook on business health and profitability.
Analyst Rating and Valuation Metrics
Phillips 66 currently holds a Zacks Rank of #3 (Hold) with a Forward P/E ratio matching the industry average at 12.51. The PEG ratio, standing at 2.08, also aligns closely with the industry standard.
The Oil and Gas – Refining and Marketing industry, part of the Oils-Energy sector, boasts a Zacks Industry Rank of 84, placing it in the top 34% of all industries. The data indicates superior stock performance in well-ranked industries.
Insights and Recommendations
Considering the thriving semiconductor market, Zacks recommends a top chip stock for investment. With estimates projecting significant growth driven by emerging technologies like AI and IoT, this stock is primed for substantial expansion.
Global semiconductor manufacturing forecasts further support the buoyant outlook, with the industry expected to nearly double from $452 billion in 2021 to $803 billion by 2028.
As you navigate investment decisions, Zacks.com provides a comprehensive view of key stock-influencing metrics for informed trading endeavors.
The views and opinions expressed herein are the author’s and do not necessarily represent those of Nasdaq, Inc.
