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SM Energy (SM) Outpaces Stock Market Gains: What You Should Know
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In the latest market close, SM Energy (SM - Free Report) reached $49.80, with a +1.94% movement compared to the previous day. The stock outpaced the S&P 500's daily gain of 1.2%. On the other hand, the Dow registered a gain of 0.69%, and the technology-centric Nasdaq increased by 1.59%.
Heading into today, shares of the independent oil and gas company had lost 1.61% over the past month, lagging the Oils-Energy sector's gain of 3.58% and outpacing the S&P 500's loss of 4.16% in that time.
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. The company is expected to report EPS of $1.28, down 3.76% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $601.36 million, up 4.86% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.15 per share and revenue of $2.54 billion, which would represent changes of +4.41% and +6.94%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SM Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 7.48% higher. SM Energy is holding a Zacks Rank of #1 (Strong Buy) right now.
With respect to valuation, SM Energy is currently being traded at a Forward P/E ratio of 7.94. This denotes a discount relative to the industry's average 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 191, finds itself in the bottom 25% echelons 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.
To follow SM in the coming trading sessions, be sure to utilize Zacks.com.
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SM Energy (SM) Outpaces Stock Market Gains: What You Should Know
In the latest market close, SM Energy (SM - Free Report) reached $49.80, with a +1.94% movement compared to the previous day. The stock outpaced the S&P 500's daily gain of 1.2%. On the other hand, the Dow registered a gain of 0.69%, and the technology-centric Nasdaq increased by 1.59%.
Heading into today, shares of the independent oil and gas company had lost 1.61% over the past month, lagging the Oils-Energy sector's gain of 3.58% and outpacing the S&P 500's loss of 4.16% in that time.
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. The company is expected to report EPS of $1.28, down 3.76% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $601.36 million, up 4.86% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.15 per share and revenue of $2.54 billion, which would represent changes of +4.41% and +6.94%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SM Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 7.48% higher. SM Energy is holding a Zacks Rank of #1 (Strong Buy) right now.
With respect to valuation, SM Energy is currently being traded at a Forward P/E ratio of 7.94. This denotes a discount relative to the industry's average 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 191, finds itself in the bottom 25% echelons 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.
To follow SM in the coming trading sessions, be sure to utilize Zacks.com.