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Why the Market Dipped But SM Energy (SM) Gained Today
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SM Energy (SM - Free Report) ended the recent trading session at $48.09, demonstrating a +0.1% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.88%. Meanwhile, the Dow experienced a rise of 0.56%, and the technology-dominated Nasdaq saw a decrease of 2.05%.
The independent oil and gas company's shares have seen a decrease of 1.62% over the last month, not keeping up with the Oils-Energy sector's gain of 2.78% and outstripping the S&P 500's loss of 2.57%.
Market participants will be closely following the financial results of SM Energy in its upcoming release. The company plans to announce its earnings on May 2, 2024. On that day, SM Energy is projected to report earnings of $1.29 per share, which would represent a year-over-year decline of 3.01%. At the same time, our most recent consensus estimate is projecting a revenue of $601.36 million, reflecting a 4.86% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.15 per share and a revenue of $2.54 billion, indicating changes of +4.41% and +6.94%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for SM Energy. 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.48% higher. SM Energy is currently a Zacks Rank #1 (Strong Buy).
Investors should also note SM Energy's current valuation metrics, including its Forward P/E ratio of 7.81. This indicates a discount in contrast to its industry's Forward P/E of 10.69.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 195, finds itself in the bottom 23% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Why the Market Dipped But SM Energy (SM) Gained Today
SM Energy (SM - Free Report) ended the recent trading session at $48.09, demonstrating a +0.1% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.88%. Meanwhile, the Dow experienced a rise of 0.56%, and the technology-dominated Nasdaq saw a decrease of 2.05%.
The independent oil and gas company's shares have seen a decrease of 1.62% over the last month, not keeping up with the Oils-Energy sector's gain of 2.78% and outstripping the S&P 500's loss of 2.57%.
Market participants will be closely following the financial results of SM Energy in its upcoming release. The company plans to announce its earnings on May 2, 2024. On that day, SM Energy is projected to report earnings of $1.29 per share, which would represent a year-over-year decline of 3.01%. At the same time, our most recent consensus estimate is projecting a revenue of $601.36 million, reflecting a 4.86% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.15 per share and a revenue of $2.54 billion, indicating changes of +4.41% and +6.94%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for SM Energy. 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.48% higher. SM Energy is currently a Zacks Rank #1 (Strong Buy).
Investors should also note SM Energy's current valuation metrics, including its Forward P/E ratio of 7.81. This indicates a discount in contrast to its industry's Forward P/E of 10.69.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 195, finds itself in the bottom 23% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.