Why the Market Dipped But (EPM) Gained Today
Evolution Petroleum (EPM) closed at $6.20 in the latest trading session, marking a +1.81% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.13%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 0.12%.
Shares of the oil and gas company witnessed a loss of 31.34% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 5.06% and the S&P 500's loss of 5.53%.
The investment community will be closely monitoring the performance of Evolution Petroleum in its forthcoming earnings report. The company is expected to report EPS of $0.07, down 76.67% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $21.63 million, reflecting a 45.67% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.53 per share and revenue of $96.55 million, indicating changes of -47.52% and -36.63%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Evolution Petroleum should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 51.39% lower. Evolution Petroleum is currently a Zacks Rank #4 (Sell).
From a valuation perspective, Evolution Petroleum is currently exchanging hands at a Forward P/E ratio of 11.6. This valuation marks a premium compared to its industry's average Forward P/E of 8.75.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 41, placing it within the top 17% of over 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Evolution Petroleum Corporation, Inc. (EPM) : Free Stock Analysis Report
