In the latest trading session, Earthstone Energy (ESTE) closed at $12.04, marking a +1.18% move from the previous day. This change outpaced the S&P 500’s 1.84% loss on the day. At the same time, the Dow lost 1.38%, and the tech-heavy Nasdaq lost 0.38%.
Prior to today’s trading, shares of the oil and gas company had lost 9.57% over the past month. This has lagged the Oils-Energy sector’s gain of 5.16% and the S&P 500’s loss of 1.96% in that time.
Wall Street will be looking for positivity from Earthstone Energy as it approaches its next earnings report date. The company is expected to report EPS of $0.39, up 333.33% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $108.45 million, up 195.67% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Earthstone Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 11.27% lower. Earthstone Energy is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Earthstone Energy has a Forward P/E ratio of 4.26 right now. This represents a discount compared to its industry’s average Forward P/E of 6.
The Oil and Gas – Exploration and Production – United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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