We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Evolution Petroleum (EPM) Suffers a Larger Drop Than the General Market: Key Insights
Read MoreHide Full Article
The latest trading session saw Evolution Petroleum (EPM - Free Report) ending at $6.44, denoting a -1.23% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.48%. Elsewhere, the Dow lost 1.12%, while the tech-heavy Nasdaq added 0.38%.
Shares of the oil and gas company have depreciated by 5.78% over the course of the past month, underperforming the Oils-Energy sector's loss of 2.26% and the S&P 500's loss of 2.65%.
The investment community will be closely monitoring the performance of Evolution Petroleum in its forthcoming earnings report. The company is scheduled to release its earnings on November 7, 2023. The company's earnings per share (EPS) are projected to be $0.07, reflecting a 76.67% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $21.63 million, indicating a 45.67% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.53 per share and a revenue of $96.55 million, representing changes of -47.52% and -24.87%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Evolution Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Evolution Petroleum is holding a Zacks Rank of #4 (Sell) right now.
From a valuation perspective, Evolution Petroleum is currently exchanging hands at a Forward P/E ratio of 12.42. This valuation marks a premium compared to its industry's average Forward P/E of 9.28.
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 19, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Evolution Petroleum (EPM) Suffers a Larger Drop Than the General Market: Key Insights
The latest trading session saw Evolution Petroleum (EPM - Free Report) ending at $6.44, denoting a -1.23% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.48%. Elsewhere, the Dow lost 1.12%, while the tech-heavy Nasdaq added 0.38%.
Shares of the oil and gas company have depreciated by 5.78% over the course of the past month, underperforming the Oils-Energy sector's loss of 2.26% and the S&P 500's loss of 2.65%.
The investment community will be closely monitoring the performance of Evolution Petroleum in its forthcoming earnings report. The company is scheduled to release its earnings on November 7, 2023. The company's earnings per share (EPS) are projected to be $0.07, reflecting a 76.67% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $21.63 million, indicating a 45.67% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.53 per share and a revenue of $96.55 million, representing changes of -47.52% and -24.87%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Evolution Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Evolution Petroleum is holding a Zacks Rank of #4 (Sell) right now.
From a valuation perspective, Evolution Petroleum is currently exchanging hands at a Forward P/E ratio of 12.42. This valuation marks a premium compared to its industry's average Forward P/E of 9.28.
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 19, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.