APA (APA) closed the most recent trading day at $24.16, moving -1.45% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.1%. Meanwhile, the Dow experienced a rise of 0.57%, and the technology-dominated Nasdaq saw a decrease of 0.33%.
Shares of the oil and natural gas producer have appreciated by 21.1% over the course of the past month, outperforming the Oils-Energy sector's gain of 3.89%, and the S&P 500's gain of 2.57%.
Market participants will be closely following the financial results of APA in its upcoming release. The company is forecasted to report an EPS of $0.71, showcasing a 29% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $2.11 billion, indicating a 16.88% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.34 per share and a revenue of $9.24 billion, indicating changes of -11.41% and -5.07%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for APA. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 6.52% upward. APA is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, APA currently has a Forward P/E ratio of 7.34. This denotes a discount relative to the industry average Forward P/E of 10.76.
One should further note that APA currently holds a PEG ratio of 6.99. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Oil and Gas - Exploration and Production - United States industry was having an average PEG ratio of 0.79.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 179, positioning it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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APA Corporation (APA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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