ONEOK Slips 1.99% as Investors Await Earnings Report
The shares fell more than the S&P 500, while Zacks estimates point to lower quarterly earnings and higher revenue.
ONEOK shares fell 1.99% to $86.86 at the latest close, underperforming the S&P 500, which lost 0.17%. The Dow fell 0.26%, and the Nasdaq declined 0.09%.
The stock had lost 7.7% over the past month, according to the article. Over the same period, the Oils-Energy sector gained 0.04%, while the S&P 500 slipped 0.24%.
For its upcoming earnings report, analysts expect ONEOK to post earnings of $1.46 per share, down 2.01% from a year earlier. Zacks’ consensus revenue estimate is $11.77 billion, up 36.34% year over year.
For the full fiscal year, Zacks estimates earnings of $5.69 per share and revenue of $43.83 billion. Those figures represent increases of 4.98% and 30.34%, respectively, from the prior year.
The consensus estimate for earnings per share has fallen 1.88% over the past month. Zacks puts ONEOK’s forward P/E at 15.56, compared with an industry average of 13.7.
This article was produced with the help of AI technology.
Source: Yahoo Finance
