Earthstone Energy (ESTE) closed the most recent trading day at $12.27, making no change from the previous trading session. This change lagged the S&P 500’s 2.24% gain on the day. Elsewhere, the Dow gained 1.55%, while the tech-heavy Nasdaq added 0.44%.
Heading into today, shares of the oil and gas company had lost 4.51% over the past month, lagging the Oils-Energy sector’s gain of 1.6% and the S&P 500’s loss of 4.46% 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 $0.54, up 217.65% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $158.17 million, up 109.3% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.80 per share and revenue of $1.08 billion, which would represent changes of +124% and +157.55%, respectively, from the prior year.
Any recent changes to analyst estimates for Earthstone Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 7.13% lower within the past month. Earthstone Energy is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that Earthstone Energy has a Forward P/E ratio of 4.38 right now. This represents a discount compared to its industry’s average Forward P/E of 5.96.
The Oil and Gas – Exploration and Production – United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 51, putting it in the top 21% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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