In its upcoming report, APA (APA) is predicted by Wall Street analysts to post quarterly earnings of $0.62 per share, reflecting a decline of 21.5% compared to the same period last year. Revenues are forecasted to be $1.92 billion, representing a year-over-year decrease of 23.2%.
Over the last 30 days, there has been a downward revision of 5.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some APA metrics that Wall Street analysts commonly model and monitor.
Based on the collective assessment of analysts, 'Oil, natural gas, and natural gas liquids production revenues- Natural gas revenues' should arrive at $173.84 million. The estimate points to a change of +2.3% from the year-ago quarter.
According to the collective judgment of analysts, 'Oil, natural gas, and natural gas liquids production revenues' should come in at $1.58 billion. The estimate indicates a change of -27.7% from the prior-year quarter.
It is projected by analysts that the 'Oil, natural gas, and natural gas liquids production revenues- Natural gas liquids revenues' will reach $130.99 million. The estimate indicates a change of -30.7% from the prior-year quarter.
The average prediction of analysts places 'Oil, natural gas, and natural gas liquids production revenues- Oil revenues' at $1.30 billion. The estimate points to a change of -29.2% from the year-ago quarter.
Analysts forecast 'Revenues- United States' to reach $962.01 million. The estimate indicates a year-over-year change of -43.6%.
The collective assessment of analysts points to an estimated 'Revenues- North Sea' of $151.33 million. The estimate suggests a change of -50.6% year over year.
The consensus estimate for 'Revenues- Egypt' stands at $617.34 million. The estimate indicates a change of -11.7% from the prior-year quarter.
Analysts' assessment points toward 'Production volume per day - Total' reaching 437 thousands of barrels of oil equivalent per day. The estimate is in contrast to the year-ago figure of 488 thousands of barrels of oil equivalent per day.
The consensus among analysts is that 'Production volume per day - Natural gas - Total' will reach . The estimate compares to the year-ago value of .
Analysts predict that the 'Average price per barrel - NGL - Total' will reach $20.47 . Compared to the current estimate, the company reported $25.08 in the same quarter of the previous year.
Analysts expect 'Production volume per day - NGL - Total' to come in at 67.61 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 81.70 thousands of barrels of oil.
The combined assessment of analysts suggests that 'Production volume per day - Oil - Total' will likely reach 230.65 thousands of barrels of oil. Compared to the present estimate, the company reported 265.18 thousands of barrels of oil in the same quarter last year.
View all Key Company Metrics for APA here>>>
Over the past month, shares of APA have returned +13.8% versus the Zacks S&P 500 composite's -0.8% change. Currently, APA carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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APA Corporation (APA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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