Evolution Petroleum (EPM) Increases Yet Falls Behind Market: What Investors Need to Know
The latest trading session saw Evolution Petroleum (EPM) ending at $5.92, denoting a +0.34% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 1.03%. Elsewhere, the Dow saw an upswing of 0.87%, while the tech-heavy Nasdaq appreciated by 1.26%.
Shares of the oil and gas company have appreciated by 1.37% over the course of the past month, outperforming the Oils-Energy sector's loss of 0.19% and lagging the S&P 500's gain of 3.01%.
The investment community will be closely monitoring the performance of Evolution Petroleum in its forthcoming earnings report. In that report, analysts expect Evolution Petroleum to post earnings of $0.12 per share. This would mark a year-over-year decline of 58.62%. Alongside, our most recent consensus estimate is anticipating revenue of $23.54 million, indicating a 30.12% downward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.42 per share and revenue of $92.65 million, indicating changes of -58.42% and -27.91%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Evolution Petroleum. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, there's been a 3.49% fall in the Zacks Consensus EPS estimate. Evolution Petroleum is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Evolution Petroleum is currently being traded at a Forward P/E ratio of 14.22. This expresses a premium compared to the average Forward P/E of 8.6 of its industry.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 186, positioning it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Evolution Petroleum Corporation, Inc. (EPM) : Free Stock Analysis Report
