In the latest trading session, Approach Resources (AREX - Free Report) closed at $0.96, marking a -1.67% move from the previous day. This change lagged the S&P 500's 0.86% gain on the day. Meanwhile, the Dow lost 0.06%, and the Nasdaq, a tech-heavy index, added 1.37%.
Heading into today, shares of the oil and gas company had lost 5.8% over the past month, lagging the Oils-Energy sector's gain of 12.19% and the S&P 500's gain of 8.11% in that time.
Investors will be hoping for strength from AREX as it approaches its next earnings release, which is expected to be March 14, 2019. On that day, AREX is projected to report earnings of -$0.05 per share, which would represent year-over-year growth of 28.57%. Meanwhile, our latest consensus estimate is calling for revenue of $30.16 million, up 6.12% from the prior-year quarter.
Any recent changes to analyst estimates for AREX should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 100% lower within the past month. AREX is currently a Zacks Rank #3 (Hold).
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 232, which puts it in the bottom 10% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.