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In the latest trading session, APA (APA - Free Report) closed at $20.78, marking a +1.37% move from the previous day. This change outpaced the S&P 500's 0.84% loss on the day. At the same time, the Dow lost 0.7%, and the tech-heavy Nasdaq lost 0.91%.
The oil and natural gas producer's stock has climbed by 16.54% in the past month, exceeding the Oils-Energy sector's loss of 0% and the S&P 500's gain of 1.44%.
Market participants will be closely following the financial results of APA in its upcoming release. The company is forecasted to report an EPS of $0.58, showcasing a 50.43% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $1.88 billion, down 32.49% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.01 per share and a revenue of $8.11 billion, indicating changes of -20.16% and -16.74%, respectively, from the former year.
Any recent changes to analyst estimates for APA should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.66% higher within the past month. At present, APA boasts a Zacks Rank of #3 (Hold).
In the context of valuation, APA is at present trading with a Forward P/E ratio of 6.81. This expresses a discount compared to the average Forward P/E of 11.33 of its industry.
Also, we should mention that APA has a PEG ratio of 6.48. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Oil and Gas - Exploration and Production - United States industry had an average PEG ratio of 2.58.
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 169, placing it within the bottom 32% 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.
To follow APA in the coming trading sessions, be sure to utilize Zacks.com.
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Why the Market Dipped But APA (APA) Gained Today
In the latest trading session, APA (APA - Free Report) closed at $20.78, marking a +1.37% move from the previous day. This change outpaced the S&P 500's 0.84% loss on the day. At the same time, the Dow lost 0.7%, and the tech-heavy Nasdaq lost 0.91%.
The oil and natural gas producer's stock has climbed by 16.54% in the past month, exceeding the Oils-Energy sector's loss of 0% and the S&P 500's gain of 1.44%.
Market participants will be closely following the financial results of APA in its upcoming release. The company is forecasted to report an EPS of $0.58, showcasing a 50.43% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $1.88 billion, down 32.49% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.01 per share and a revenue of $8.11 billion, indicating changes of -20.16% and -16.74%, respectively, from the former year.
Any recent changes to analyst estimates for APA should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.66% higher within the past month. At present, APA boasts a Zacks Rank of #3 (Hold).
In the context of valuation, APA is at present trading with a Forward P/E ratio of 6.81. This expresses a discount compared to the average Forward P/E of 11.33 of its industry.
Also, we should mention that APA has a PEG ratio of 6.48. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Oil and Gas - Exploration and Production - United States industry had an average PEG ratio of 2.58.
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 169, placing it within the bottom 32% 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.
To follow APA in the coming trading sessions, be sure to utilize Zacks.com.