Gran Tierra Energy (GTE) closed at $1.15 in the latest trading session, marking a -1.71% move from the prior day. This change lagged the S&P 500's 0.19% gain on the day. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, added 0.81%.
Heading into today, shares of the oil and natural gas company had lost 14.6% over the past month, lagging the Oils-Energy sector's loss of 1.68% and the S&P 500's gain of 0.56% in that time.
GTE will be looking to display strength as it nears its next earnings release. 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 might also notice recent changes to analyst estimates for GTE. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 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).
Looking at its valuation, GTE is holding a Forward P/E ratio of 8.16. This valuation marks a premium compared to its industry's average Forward P/E of 7.75.
The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% 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.
To follow GTE in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Gran Tierra Energy Inc. (GTE) : Free Stock Analysis Report
To read this article on Zacks.com click here.