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Magnolia Oil & Gas Corp (MGY) Stock Moves -0.84%: What You Should Know
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In the latest trading session, Magnolia Oil & Gas Corp (MGY - Free Report) closed at $22.30, marking a -0.84% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.15%. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq lost 0.13%.
Coming into today, shares of the company had gained 3.17% in the past month. In that same time, the Oils-Energy sector gained 2.96%, while the S&P 500 gained 1.44%.
Investors will be hoping for strength from Magnolia Oil & Gas Corp as it approaches its next earnings release, which is expected to be August 2, 2022. On that day, Magnolia Oil & Gas Corp is projected to report earnings of $1.18 per share, which would represent year-over-year growth of 110.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $459.13 million, up 83.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.51 per share and revenue of $1.77 billion, which would represent changes of +86.36% and +64.72%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Magnolia Oil & Gas Corp. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, 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. The Zacks Consensus EPS estimate has moved 2.62% higher within the past month. Magnolia Oil & Gas Corp is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Magnolia Oil & Gas Corp's current valuation metrics, including its Forward P/E ratio of 4.99. For comparison, its industry has an average Forward P/E of 4.66, which means Magnolia Oil & Gas Corp is trading at a premium 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 15, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Magnolia Oil & Gas Corp (MGY) Stock Moves -0.84%: What You Should Know
In the latest trading session, Magnolia Oil & Gas Corp (MGY - Free Report) closed at $22.30, marking a -0.84% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.15%. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq lost 0.13%.
Coming into today, shares of the company had gained 3.17% in the past month. In that same time, the Oils-Energy sector gained 2.96%, while the S&P 500 gained 1.44%.
Investors will be hoping for strength from Magnolia Oil & Gas Corp as it approaches its next earnings release, which is expected to be August 2, 2022. On that day, Magnolia Oil & Gas Corp is projected to report earnings of $1.18 per share, which would represent year-over-year growth of 110.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $459.13 million, up 83.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.51 per share and revenue of $1.77 billion, which would represent changes of +86.36% and +64.72%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Magnolia Oil & Gas Corp. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, 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. The Zacks Consensus EPS estimate has moved 2.62% higher within the past month. Magnolia Oil & Gas Corp is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Magnolia Oil & Gas Corp's current valuation metrics, including its Forward P/E ratio of 4.99. For comparison, its industry has an average Forward P/E of 4.66, which means Magnolia Oil & Gas Corp is trading at a premium 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 15, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.