Evolution Petroleum (EPM) Ascends But Remains Behind Market: Some Facts to Note
In the latest trading session, Evolution Petroleum (EPM) closed at $6.07, marking a +0.83% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.89% for the day. Elsewhere, the Dow saw an upswing of 1.03%, while the tech-heavy Nasdaq appreciated by 1.25%.
Shares of the oil and gas company witnessed a gain of 9.45% over the previous month, beating the performance of the Oils-Energy sector with its gain of 5.25% and the S&P 500's gain of 3.56%.
Market participants will be closely following the financial results of Evolution Petroleum in its upcoming release. It is anticipated that the company will report an EPS of $0.04, marking a 90.48% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $21.84 million, showing a 40.78% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.21 per share and revenue of $88.68 million, indicating changes of -79.21% and -31%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Evolution Petroleum should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Evolution Petroleum is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Evolution Petroleum is presently being traded at a Forward P/E ratio of 29.37. This valuation marks a premium compared to its industry's average Forward P/E of 10.78.
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 210, 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Evolution Petroleum Corporation, Inc. (EPM) : Free Stock Analysis Report
