$291.01 Million in Sales Expected for SM Energy Company (SM) This Quarter
Wall Street brokerages forecast that SM Energy Company (NYSE:SM) will post sales of $291.01 million for the current quarter, Zacks reports. Six analysts have provided estimates for SM Energy’s earnings, with the lowest sales estimate coming in at $268.20 million and the highest estimate coming in at $312.66 million. SM Energy reported sales of $352.66 million during the same quarter last year, which indicates a negative year over year growth rate of 17.5%. The firm is scheduled to report its next earnings results after the market closes on Thursday, November 2nd.
According to Zacks, analysts expect that SM Energy will report full year sales of $291.01 million for the current financial year, with estimates ranging from $1.06 billion to $1.31 billion. For the next financial year, analysts expect that the firm will report sales of $1.37 billion per share, with estimates ranging from $1.17 billion to $1.51 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for SM Energy.
SM Energy (NYSE:SM) last announced its earnings results on Thursday, August 3rd. The energy company reported ($0.32) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.32). SM Energy had a negative net margin of 20.67% and a negative return on equity of 3.11%. The business had revenue of $284.94 million for the quarter, compared to the consensus estimate of $299.12 million. During the same quarter in the prior year, the firm posted ($0.44) earnings per share. The business’s revenue for the quarter was down 16.6% on a year-over-year basis.
A number of analysts have issued reports on SM shares. BidaskClub lowered shares of SM Energy from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. BMO Capital Markets set a $20.00 price target on shares of SM Energy and gave the stock a “hold” rating in a research note on Saturday, August 5th. Bank of America Corporation started coverage on shares of SM Energy in a research note on Wednesday, July 19th. They set a “neutral” rating and a $20.00 price target on the stock. Barclays PLC cut their price target on shares of SM Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 8th. Finally, Royal Bank Of Canada set a $20.00 price target on shares of SM Energy and gave the stock a “hold” rating in a research note on Thursday, August 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. SM Energy currently has a consensus rating of “Hold” and an average target price of $30.00.
Hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its stake in shares of SM Energy by 12.1% during the second quarter. Pacer Advisors Inc. now owns 9,878 shares of the energy company’s stock worth $163,000 after buying an additional 1,064 shares during the period. Tocqueville Asset Management L.P. purchased a new stake in shares of SM Energy during the second quarter worth approximately $165,000. Credit Agricole S A increased its stake in shares of SM Energy by 13.2% during the first quarter. Credit Agricole S A now owns 7,106 shares of the energy company’s stock worth $171,000 after buying an additional 831 shares during the period. B & T Capital Management DBA Alpha Capital Management increased its stake in shares of SM Energy by 3.2% during the second quarter. B & T Capital Management DBA Alpha Capital Management now owns 10,959 shares of the energy company’s stock worth $181,000 after buying an additional 335 shares during the period. Finally, ING Groep NV purchased a new stake in shares of SM Energy during the second quarter worth approximately $197,000. Hedge funds and other institutional investors own 97.05% of the company’s stock.
Shares of SM Energy (NYSE:SM) opened at 18.63 on Friday. The stock has a 50 day moving average of $15.97 and a 200 day moving average of $17.95. SM Energy has a 52 week low of $12.29 and a 52 week high of $43.09. The stock’s market cap is $2.08 billion.
The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 20th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, October 19th. This represents a dividend yield of 0.54%. SM Energy’s payout ratio is -3.19%.
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About SM Energy
SM Energy Company is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and condensate, natural gas and natural gas liquids in onshore North America. It operates in the exploration and production segment of the oil and gas industry within the United States.
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