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APA (APA) Stock Drops Despite Market Gains: Important Facts to Note
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APA (APA - Free Report) ended the recent trading session at $24.34, demonstrating a -1.42% change from the preceding day's closing price. This change lagged the S&P 500's 0.26% gain on the day. On the other hand, the Dow registered a gain of 0.15%, and the technology-centric Nasdaq increased by 0.48%.
Heading into today, shares of the oil and natural gas producer had gained 6.33% over the past month, outpacing the Oils-Energy sector's gain of 4.06% and the S&P 500's gain of 2.87%.
Analysts and investors alike will be keeping a close eye on the performance of APA in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.72, showcasing a 28% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.11 billion, indicating a 16.8% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.34 per share and a revenue of $9.25 billion, indicating changes of -11.41% and -4.97%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for APA. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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, there's been a 4.38% rise in the Zacks Consensus EPS estimate. APA is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, APA is holding a Forward P/E ratio of 7.39. This denotes a discount relative to the industry average Forward P/E of 11.2.
We can also see that APA currently has a PEG ratio of 7.03. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Oil and Gas - Exploration and Production - United States industry had an average PEG ratio of 0.82 as trading concluded yesterday.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 193, this industry ranks in the bottom 22% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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APA (APA) Stock Drops Despite Market Gains: Important Facts to Note
APA (APA - Free Report) ended the recent trading session at $24.34, demonstrating a -1.42% change from the preceding day's closing price. This change lagged the S&P 500's 0.26% gain on the day. On the other hand, the Dow registered a gain of 0.15%, and the technology-centric Nasdaq increased by 0.48%.
Heading into today, shares of the oil and natural gas producer had gained 6.33% over the past month, outpacing the Oils-Energy sector's gain of 4.06% and the S&P 500's gain of 2.87%.
Analysts and investors alike will be keeping a close eye on the performance of APA in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.72, showcasing a 28% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.11 billion, indicating a 16.8% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.34 per share and a revenue of $9.25 billion, indicating changes of -11.41% and -4.97%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for APA. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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, there's been a 4.38% rise in the Zacks Consensus EPS estimate. APA is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, APA is holding a Forward P/E ratio of 7.39. This denotes a discount relative to the industry average Forward P/E of 11.2.
We can also see that APA currently has a PEG ratio of 7.03. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Oil and Gas - Exploration and Production - United States industry had an average PEG ratio of 0.82 as trading concluded yesterday.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 193, this industry ranks in the bottom 22% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.