Earthstone Energy (ESTE) closed at $4.45 in the latest trading session, marking a -1.33% move from the prior day. This move lagged the S&P 500's daily gain of 0.73%. Elsewhere, the Dow gained 0.6%, while the tech-heavy Nasdaq added 1.13%.
Prior to today's trading, shares of the oil and gas company had lost 28.3% over the past month. This has lagged the Oils-Energy sector's loss of 10.99% and the S&P 500's gain of 2.95% in that time.
Wall Street will be looking for positivity from ESTE as it approaches its next earnings report date. In that report, analysts expect ESTE to post earnings of $0.27 per share. This would mark year-over-year growth of 107.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $61.58 million, up 49.33% from the year-ago period.
Investors might also notice recent changes to analyst estimates for ESTE. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection remained stagnant. ESTE currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, ESTE currently has a Forward P/E ratio of 4.63. For comparison, its industry has an average Forward P/E of 9.21, which means ESTE is trading at a discount to the group.
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 153, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 ESTE in the coming trading sessions, be sure to utilize Zacks.com.