Brigham Minerals (MNRL) Gains As Market Dips: What You Should Know
In the latest trading session, Brigham Minerals (MNRL) closed at $30.07, marking a +0.2% move from the previous day. This change outpaced the S&P 500's 0.8% loss on the day. At the same time, the Dow lost 0.3%, and the tech-heavy Nasdaq lost 0.03%.
Coming into today, shares of the mineral and royalty interests company had gained 11.64% in the past month. In that same time, the Basic Materials sector lost 5.3%, while the S&P 500 lost 5.13%.
Wall Street will be looking for positivity from Brigham Minerals as it approaches its next earnings report date. This is expected to be November 3, 2022. The company is expected to report EPS of $0.69, up 122.58% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $81.71 million, up 94.72% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.87 per share and revenue of $324.57 million, which would represent changes of +160.91% and +101.32%, respectively, from the prior year.
Any recent changes to analyst estimates for Brigham Minerals should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
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 remained stagnant within the past month. Brigham Minerals is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Brigham Minerals currently has a Forward P/E ratio of 10.46. This valuation marks a premium compared to its industry's average Forward P/E of 7.6.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% 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.
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