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Diamondback Energy (FANG) Ascends But Remains Behind Market: Some Facts to Note
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Diamondback Energy (FANG - Free Report) closed the most recent trading day at $184.52, moving +0.01% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.12% for the day. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 1.54%.
Coming into today, shares of the energy exploration and production company had gained 11.16% in the past month. In that same time, the Oils-Energy sector gained 4.79%, while the S&P 500 gained 2.06%.
Market participants will be closely following the financial results of Diamondback Energy in its upcoming release. The company is forecasted to report an EPS of $4.32, showcasing a 5.37% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $2.1 billion, indicating a 9.27% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $17.94 per share and revenue of $8.72 billion, indicating changes of -0.39% and +3.67%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Diamondback Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.34% lower. As of now, Diamondback Energy holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Diamondback Energy is holding a Forward P/E ratio of 10.28. For comparison, its industry has an average Forward P/E of 10.07, which means Diamondback Energy is trading at a premium to the group.
One should further note that FANG currently holds a PEG ratio of 0.47. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.69 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 215, placing it within the bottom 15% of over 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Diamondback Energy (FANG) Ascends But Remains Behind Market: Some Facts to Note
Diamondback Energy (FANG - Free Report) closed the most recent trading day at $184.52, moving +0.01% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.12% for the day. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 1.54%.
Coming into today, shares of the energy exploration and production company had gained 11.16% in the past month. In that same time, the Oils-Energy sector gained 4.79%, while the S&P 500 gained 2.06%.
Market participants will be closely following the financial results of Diamondback Energy in its upcoming release. The company is forecasted to report an EPS of $4.32, showcasing a 5.37% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $2.1 billion, indicating a 9.27% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $17.94 per share and revenue of $8.72 billion, indicating changes of -0.39% and +3.67%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Diamondback Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.34% lower. As of now, Diamondback Energy holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Diamondback Energy is holding a Forward P/E ratio of 10.28. For comparison, its industry has an average Forward P/E of 10.07, which means Diamondback Energy is trading at a premium to the group.
One should further note that FANG currently holds a PEG ratio of 0.47. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.69 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 215, placing it within the bottom 15% of over 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.
You can find more information on all of these metrics, and much more, on Zacks.com.