Evolution Petroleum (EPM) Suffers a Larger Drop Than the General Market: Key Insights
The latest trading session saw Evolution Petroleum (EPM) ending at $6.44, denoting a -1.23% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.48%. Elsewhere, the Dow lost 1.12%, while the tech-heavy Nasdaq added 0.38%.
Shares of the oil and gas company have depreciated by 5.78% over the course of the past month, underperforming the Oils-Energy sector's loss of 2.26% and the S&P 500's loss of 2.65%.
The investment community will be closely monitoring the performance of Evolution Petroleum in its forthcoming earnings report. The company is scheduled to release its earnings on November 7, 2023. The company's earnings per share (EPS) are projected to be $0.07, reflecting a 76.67% decrease from the same quarter last 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 entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.53 per share and a revenue of $96.55 million, representing changes of -47.52% and -24.87%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Evolution Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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 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 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.
From a valuation perspective, Evolution Petroleum is currently exchanging hands at a Forward P/E ratio of 12.42. This valuation marks a premium compared to its industry's average Forward P/E of 9.28.
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 19, which puts it in the top 8% 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
