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Kinder Morgan (KMI – Free Report) posted a quarterly profit of $ 0.21 per share, exceeding Zacks' consensus estimate of $ 0.20 per share. This compares to a profit of $ 0.15 a share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents a profit surprise of 5%. A quarter of a month ago, it was expected that this pipeline and oil storage company would earn a profit of $ 0.19 per share while it recorded a profit of $ 0.21, a surprise of 10 , 53%.
In the last four quarters, the company has exceeded consensus EPS estimates four times.
Kinder Morgan, which is part of the Zacks oil and gas – production and pipelines business, achieved a business turnover of $ 3.52 billion for the quarter ended September 2018, or 3.11% less than Zacon's consensus estimate. This compares with last year's revenues of $ 3.28 billion. The company has exceeded the consensus business figure twice in the last four quarters.
The sustainability of the immediate stock price movement based on recently published figures and future earnings forecasts will depend primarily on management's comments on the call for results.
Kinder Morgan shares have lost about 0.8% since the beginning of the year, compared to 5.1% for the S & P 500.
What's next for Kinder Morgan?
While Kinder Morgan has underperformed the market since the beginning of the year, the question for investors is: what is the next step for the stock?
There is no simple answer to this key question, but the company's earnings outlook is a reliable measure to help investors. This includes not only the current consensus results for the coming quarters, but also how these forecasts have changed recently.
Empirical research shows a strong correlation between short-term stock movements and trends in revisions to earnings estimates. Investors can track these revisions themselves or rely on a proven scoring tool such as Zacks Rank, which has impressive experience controlling revisions to earnings power estimates.
Prior to the release of these results, the trend of estimated revisions for Kinder Morgan was mixed. Although the magnitude and direction of the revisions may change as a result of the release of the company's earnings report, the current status results in a Zack ranking of 3 percent. the title. As a result, equities should evolve in line with the market in the near future. You can see the complete list of # 1 Zacks stock at the current rank (strong buy) here.
It will be interesting to see how the estimates for the coming quarters and the current fiscal year will change in the coming days. The consensus estimate of EPS is currently $ 0.23 for a business turnover of $ 4.02 billion for the next quarter and $ 0.86 for a turnover of 14 , 37 billion USD for the current fiscal year.
Investors should be aware that the outlook for the sector can also have a significant impact on the performance of the security. Regarding the Zacks industry ranking, Oil & Gas – Production and Oil Pipelines are currently among the top 42% of Zack's 250 industries. Our research shows that the top 50% of industries ranked by Zacks perform better than the bottom 50% by a factor greater than 2 to 1.
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