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Diamondback Energy (FANG) Dips More Than Broader Markets: What You Should Know
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Diamondback Energy (FANG - Free Report) closed at $94.67 in the latest trading session, marking a -1.44% move from the prior day. This change lagged the S&P 500's 1.19% loss on the day.
Prior to today's trading, shares of the energy exploration and production company had gained 29.52% over the past month. This has outpaced the Oils-Energy sector's gain of 6.46% and the S&P 500's loss of 3.16% in that time.
Investors will be hoping for strength from FANG as it approaches its next earnings release, which is expected to be November 1, 2021. The company is expected to report EPS of $2.64, up 325.81% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.48 billion, up 106.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.14 per share and revenue of $5.5 billion, which would represent changes of +233.55% and +95.41%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for FANG. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.21% higher. FANG is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that FANG has a Forward P/E ratio of 9.48 right now. This valuation marks a discount compared to its industry's average Forward P/E of 10.57.
Meanwhile, FANG's PEG ratio is currently 0.43. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. FANG's industry had an average PEG ratio of 0.46 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Diamondback Energy (FANG) Dips More Than Broader Markets: What You Should Know
Diamondback Energy (FANG - Free Report) closed at $94.67 in the latest trading session, marking a -1.44% move from the prior day. This change lagged the S&P 500's 1.19% loss on the day.
Prior to today's trading, shares of the energy exploration and production company had gained 29.52% over the past month. This has outpaced the Oils-Energy sector's gain of 6.46% and the S&P 500's loss of 3.16% in that time.
Investors will be hoping for strength from FANG as it approaches its next earnings release, which is expected to be November 1, 2021. The company is expected to report EPS of $2.64, up 325.81% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.48 billion, up 106.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.14 per share and revenue of $5.5 billion, which would represent changes of +233.55% and +95.41%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for FANG. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.21% higher. FANG is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that FANG has a Forward P/E ratio of 9.48 right now. This valuation marks a discount compared to its industry's average Forward P/E of 10.57.
Meanwhile, FANG's PEG ratio is currently 0.43. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. FANG's industry had an average PEG ratio of 0.46 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.