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SM Energy (SM) closed the most recent trading day at $36.42, moving -0.79% from the previous trading session. This change was narrower than the S&P 500's 1.15% loss on the day. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, lost 0.08%.
Heading into today, shares of the independent oil and gas company had lost 1.02% over the past month, lagging the Oils-Energy sector's gain of 2.96% and the S&P 500's gain of 1.44% in that time.
Investors will be hoping for strength from SM Energy as it approaches its next earnings release, which is expected to be August 3, 2022. The company is expected to report EPS of $2.13, up 21200% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $838.25 million, up 48.67% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.42 per share and revenue of $3.34 billion, which would represent changes of +355.14% and +27.2%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for SM Energy. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 6.63% lower. SM Energy is currently a Zacks Rank #3 (Hold).
Investors should also note SM Energy's current valuation metrics, including its Forward P/E ratio of 4.36. For comparison, its industry has an average Forward P/E of 4.66, which means SM Energy is trading at a discount to the group.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 15, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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