Gran Tierra Energy (GTE) closed at $1.08 in the latest trading session, marking a +1.89% move from the prior day. This move outpaced the S&P 500's daily loss of 0.3%. Elsewhere, the Dow lost 0.52%, while the tech-heavy Nasdaq lost 0.14%.
Coming into today, shares of the oil and natural gas company had lost 9.4% in the past month. In that same time, the Oils-Energy sector lost 0.43%, while the S&P 500 gained 2.46%.
Investors will be hoping for strength from GTE as it approaches its next earnings release, which is expected to be November 5, 2019. On that day, GTE is projected to report earnings of $0.05 per share, which would represent a year-over-year decline of 72.22%.
Investors should also note any recent changes to analyst estimates for GTE. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 has moved 2.38% higher within the past month. GTE is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, GTE is currently trading at a Forward P/E ratio of 7.4. This represents a premium compared to its industry's average Forward P/E of 7.28.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Gran Tierra Energy Inc. (GTE) : Free Stock Analysis Report
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