In the latest trading session, Approach Resources closed at $0.27, marking a +1.81% move from the previous day. This move outpaced the S&P 500's daily loss of 0.26%. Elsewhere, the Dow lost 0.09%, while the tech-heavy Nasdaq lost 0.24%.
Coming into today, shares of the oil and gas company had gained 0.23% in the past month. In that same time, the Oils-Energy sector lost 3.49%, while the S&P 500 gained 2.87%.
Investors will be hoping for strength from AREX as it approaches its next earnings release. On that day, AREX is projected to report earnings of -$0.13 per share, which would represent a year-over-year decline of 85.71%. Our most recent consensus estimate is calling for quarterly revenue of $20.61 million, down 32.05% from the year-ago period.
AREX's full-year Zacks Consensus Estimates are calling for earnings of -$0.40 per share and revenue of $81.66 million. These results would represent year-over-year changes of -53.85% and -28.39%, respectively.
Investors should also note any recent changes to analyst estimates for AREX. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 25% lower within the past month. AREX is currently sporting a Zacks Rank of #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 215, which puts it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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 follow all of these stock-moving metrics, and many more, on Zacks.com.