In This Article:
Wall Street analysts expect Targa Resources, Inc. (TRGP) to post quarterly earnings of $2.04 per share in its upcoming report, which indicates a year-over-year increase of 67.2%. Revenues are expected to be $5.73 billion, up 25.5% from the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 1.3% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Bearing this in mind, let's now explore the average estimates of specific Targa Resources metrics that are commonly monitored and projected by Wall Street analysts.
Analysts' assessment points toward 'Gathering and Processing - NGL sales per day' reaching 577.97 millions of barrels of oil. The estimate is in contrast to the year-ago figure of 498.8 millions of barrels of oil.
According to the collective judgment of analysts, 'Gathering and Processing - Gross NGL production - Coastal' should come in at 31.89 millions of barrels of oil per day. The estimate compares to the year-ago value of 39.1 millions of barrels of oil per day.
Analysts expect 'Gathering and Processing - Condensate sales per day' to come in at 20.50 millions of barrels of oil. Compared to the present estimate, the company reported 19.1 millions of barrels of oil in the same quarter last year.
It is projected by analysts that the 'Logistics and Marketing - NGL sales' will reach 1,198.95 millions of barrels of oil per day. The estimate compares to the year-ago value of 1227.6 millions of barrels of oil per day.
The consensus among analysts is that 'Logistics and Marketing - Export volumes' will reach 455.64 millions of barrels of oil per day. The estimate is in contrast to the year-ago figure of 439 millions of barrels of oil per day.
Analysts forecast 'Logistics and Marketing - Fractionation volumes' to reach 1,084.31 millions of barrels of oil per day. Compared to the present estimate, the company reported 797.2 millions of barrels of oil per day in the same quarter last year.