Earthstone Energy (ESTE) closed at $12.75 in the latest trading session, marking a -1.85% move from the prior day. This move was narrower than the S&P 500’s daily loss of 2.44%. Elsewhere, the Dow lost 1.45%, while the tech-heavy Nasdaq lost 0.41%.
Coming into today, shares of the oil and gas company had gained 6.13% in the past month. In that same time, the Oils-Energy sector gained 13.77%, while the S&P 500 lost 3.72%.
Wall Street will be looking for positivity from Earthstone Energy as it approaches its next earnings report date. On that day, Earthstone Energy is projected to report earnings of $0.34 per share, which would represent year-over-year growth of 277.78%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $106.3 million, up 189.79% from the year-ago period.
Any recent changes to analyst estimates for Earthstone Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.11% higher. Earthstone Energy is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that Earthstone Energy has a Forward P/E ratio of 4.12 right now. For comparison, its industry has an average Forward P/E of 6.24, which means Earthstone Energy is trading at a discount to the group.
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 68, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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