In the latest trading session, Approach Resources (AREX) closed at $0.28, marking a -0.6% move from the previous day. This change lagged the S&P 500's 0.47% gain on the day. Elsewhere, the Dow lost 0.29%, while the tech-heavy Nasdaq added 0.85%.
Prior to today's trading, shares of the oil and gas company had lost 22.05% over the past month. This has lagged the Oils-Energy sector's loss of 1.63% and the S&P 500's gain of 2.08% in that time.
AREX will be looking to display strength as it nears 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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 might also notice recent changes to analyst estimates for AREX. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Over the past month, the Zacks Consensus EPS estimate has moved 25% lower. AREX currently has 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 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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