Evolution Petroleum (EPM) Gains But Lags Market: What You Should Know
Evolution Petroleum (EPM) closed the most recent trading day at $6.47, moving +0.62% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.89%. Meanwhile, the Dow gained 1.7%, and the Nasdaq, a tech-heavy index, added 1.78%.
The oil and gas company's stock has climbed by 5.58% in the past month, exceeding the Oils-Energy sector's loss of 4.26% and the S&P 500's loss of 1.14%.
Analysts and investors alike will be keeping a close eye on the performance of Evolution Petroleum in its upcoming earnings disclosure. The company's earnings report is set to go public on November 7, 2023. The company's upcoming EPS is projected at $0.08, signifying a 73.33% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $21.63 million, indicating a 45.67% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.53 per share and a revenue of $96.55 million, signifying shifts of -47.52% and -24.87%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Evolution Petroleum. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Evolution Petroleum boasts a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Evolution Petroleum has a Forward P/E ratio of 12.25 right now. This indicates a premium in contrast to its industry's Forward P/E of 9.5.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 22, placing it within the top 9% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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 EPM in the coming trading sessions, be sure to utilize Zacks.com.
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Evolution Petroleum Corporation, Inc. (EPM) : Free Stock Analysis Report
