Goodrich Petroleum closed at $21.79 in the latest trading session, marking a -1.18% move from the prior day. This move lagged the S&P 500's daily gain of 1.71%.
Heading into today, shares of the independent oil and gas company had lost 2.56% over the past month, lagging the Oils-Energy sector's gain of 11.88% and the S&P 500's loss of 2.25% in that time.
GDP will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.02, up 666.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $45.07 million, up 109.9% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.73 per share and revenue of $167.84 million, which would represent changes of +1676.19% and +68.18%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for GDP. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. GDP currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, GDP is currently trading at a Forward P/E ratio of 5.91. For comparison, its industry has an average Forward P/E of 10.44, which means GDP is trading at a discount to the group.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 25, putting it in the top 10% 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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Goodrich Petroleum (GDP) Stock Sinks As Market Gains: What You Should Know
Goodrich Petroleum closed at $21.79 in the latest trading session, marking a -1.18% move from the prior day. This move lagged the S&P 500's daily gain of 1.71%.
Heading into today, shares of the independent oil and gas company had lost 2.56% over the past month, lagging the Oils-Energy sector's gain of 11.88% and the S&P 500's loss of 2.25% in that time.
GDP will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.02, up 666.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $45.07 million, up 109.9% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.73 per share and revenue of $167.84 million, which would represent changes of +1676.19% and +68.18%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for GDP. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. GDP currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, GDP is currently trading at a Forward P/E ratio of 5.91. For comparison, its industry has an average Forward P/E of 10.44, which means GDP is trading at a discount to the group.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 25, putting it in the top 10% 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.