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Equinor (EQNR) Stock Sinks As Market Gains: What You Should Know

Equinor (EQNR) closed the most recent trading day at $30.37, moving -0.2% from the previous trading session. This move lagged the S&P 500's daily gain of 1.05%. At the same time, the Dow added 0.02%, and the tech-heavy Nasdaq gained 9.7%.

Heading into today, shares of the oil and gas company had lost 6.66% over the past month, lagging the Oils-Energy sector's gain of 3.04% and the S&P 500's gain of 6.27% in that time.

Wall Street will be looking for positivity from Equinor as it approaches its next earnings report date. On that day, Equinor is projected to report earnings of $1.62 per share, which would represent year-over-year growth of 19.12%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $69.47 billion, up 113.05% from the year-ago period.

Any recent changes to analyst estimates for Equinor should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 12.37% lower. Equinor is currently a Zacks Rank #3 (Hold).

Valuation is also important, so investors should note that Equinor has a Forward P/E ratio of 4.94 right now. This represents a discount compared to its industry's average Forward P/E of 8.3.

The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 101, putting it in the top 41% 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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Equinor ASA (EQNR) : Free Stock Analysis Report

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