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Oneok Inc. Earnings Report: Positive EPS Growth Forecast

Oneok Inc. is set to release its earnings report on October 29, 2024, projecting an EPS of $1.26, a rise of 27.27% year-over-year. Additionally, revenue is expected at $5.85 billion, indicating a growth of 39.75%. These forecasts could positively influence the stock’s market performance.

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AI Rating:   7

According to the report, Oneok Inc. (OKE) closed up by 1.22% against a slight decline in the S&P 500. While the company's recent monthly performance shows a decrease of 1.11%, the upcoming earnings report may provide a catalyst for stock price movement.

Earnings Per Share (EPS): Oneok is anticipated to report an EPS of $1.26, which represents a significant increase of 27.27% when compared to the same quarter of the prior year. This strong EPS growth signals potential improvement in profitability and could positively influence stock prices.

Revenue Growth: The report estimates revenues to be around $5.85 billion, reflecting a robust increase of 39.75% year-over-year. This substantial revenue growth may attract more investors, enhancing the company's attractiveness in the market.

The Zacks Consensus Estimates also forecast annual earnings of $5.09 per share, alongside a revenue estimate of $21.94 billion. While this indicates a slight decline in earnings of 7.12% year-over-year, the revenue growth of 24.13% is promising and could indicate underlying strengths in the business.

Additionally, the report highlights recent positive changes in analyst estimates for Oneok, which usually suggest an optimistic outlook and can correlate with stock performance. The Zacks Rank, currently rated #3 (Hold), reflects a balanced view on the stock, indicating no immediate buy or sell signals.

In terms of valuation, the Forward P/E ratio for OKE stands at 17.51, which is notably higher than the industry average of 12.41, indicating that the stock may be overpriced relative to its peers. The high PEG ratio of 4.41, compared to the average of 1.47 for its sector, could also suggest that investors are expecting high growth in earnings in the long term.

Overall, with strong expectations for earnings and revenue growth, Oneok Inc. appears well-positioned to potentially defy broader market trends, which could lead to responsive movements in its stock price following the upcoming earnings release.

Stocks:  OKE