Analysts on Wall Street project that SM Energy (SM) will announce quarterly earnings of $0.73 per share in its forthcoming report, representing a decline of 61.8% year over year. Revenues are projected to reach $765.59 million, declining 10.2% from the same quarter last year.
The consensus EPS estimate for the quarter has been revised 9.1% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some SM Energy metrics that Wall Street analysts commonly model and monitor.
The combined assessment of analysts suggests that 'Operating revenue- Other operating income' will likely reach $1.29 million. The estimate indicates a year-over-year change of -92.1%.
Analysts' assessment points toward 'Average daily production - Total' reaching 209.32 thousands of barrels of oil equivalent. The estimate is in contrast to the year-ago figure of 208.00 thousands of barrels of oil equivalent.
Based on the collective assessment of analysts, 'Average daily production - NGLs' should arrive at 27.55 thousands of barrels of oil. Compared to the present estimate, the company reported 30.30 thousands of barrels of oil in the same quarter last year.
The consensus among analysts is that 'Average daily production - Natural gas' will reach . Compared to the current estimate, the company reported in the same quarter of the previous year.
Analysts expect 'Average daily production - Crude oil' to come in at 110.99 thousands of barrels of oil. Compared to the present estimate, the company reported 106.90 thousands of barrels of oil in the same quarter last year.
View all Key Company Metrics for SM Energy here>>>
Shares of SM Energy have demonstrated returns of +25.2% over the past month compared to the Zacks S&P 500 composite's -0.8% change. With a Zacks Rank #3 (Hold), SM is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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SM Energy Company (SM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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