Zacks: Analysts Expect SM Energy Company (SM) Will Post Earnings of -$0.32 Per Share
Wall Street brokerages predict that SM Energy Company (NYSE:SM) will report earnings per share (EPS) of ($0.32) for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for SM Energy’s earnings, with the lowest EPS estimate coming in at ($0.41) and the highest estimate coming in at ($0.23). SM Energy reported earnings per share of ($0.37) during the same quarter last year, which indicates a positive year over year growth rate of 13.5%. The business is expected to issue its next earnings results after the market closes on Thursday, November 2nd.
According to Zacks, analysts expect that SM Energy will report full year earnings of ($1.10) per share for the current financial year, with EPS estimates ranging from ($1.32) to ($0.90). For the next financial year, analysts expect that the company will report earnings of ($0.97) per share, with EPS estimates ranging from ($2.20) to $0.21. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for SM Energy.
SM Energy (NYSE:SM) last issued its earnings results on Thursday, August 3rd. The energy company reported ($0.32) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.32). SM Energy had a negative return on equity of 3.11% and a negative net margin of 20.67%. The business had revenue of $284.94 million during the quarter, compared to the consensus estimate of $299.12 million. During the same period last year, the company earned ($0.44) EPS. The company’s revenue for the quarter was down 16.6% on a year-over-year basis.
Several equities analysts recently weighed in on the company. Barclays PLC reduced their target price on SM Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 8th. Zacks Investment Research downgraded SM Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Bank of America Corporation assumed coverage on SM Energy in a research report on Wednesday, July 19th. They set a “neutral” rating and a $20.00 target price on the stock. Royal Bank Of Canada set a $20.00 price target on SM Energy and gave the stock a “hold” rating in a research note on Thursday, August 24th. Finally, BMO Capital Markets set a $21.00 price target on SM Energy and gave the stock a “hold” rating in a research note on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. SM Energy presently has an average rating of “Hold” and an average target price of $27.79.
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Shares of SM Energy (SM) opened at 19.19 on Monday. The firm has a 50 day moving average price of $17.44 and a 200-day moving average price of $17.57. The firm’s market capitalization is $2.14 billion. SM Energy has a 52 week low of $12.29 and a 52 week high of $42.45.
The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 20th will be issued a dividend of $0.05 per share. This represents a yield of 0.54%. The ex-dividend date is Thursday, October 19th. SM Energy’s dividend payout ratio is presently -3.19%.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in SM Energy by 16.2% during the 1st quarter. Vanguard Group Inc. now owns 8,779,746 shares of the energy company’s stock worth $210,889,000 after buying an additional 1,226,564 shares during the last quarter. Key Group Holdings Cayman LTD. lifted its holdings in shares of SM Energy by 40.9% in the 2nd quarter. Key Group Holdings Cayman LTD. now owns 5,305,568 shares of the energy company’s stock worth $87,701,000 after purchasing an additional 1,538,955 shares during the last quarter. State Street Corp lifted its holdings in shares of SM Energy by 17.7% in the 2nd quarter. State Street Corp now owns 5,195,340 shares of the energy company’s stock worth $85,878,000 after purchasing an additional 780,106 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of SM Energy by 12.6% in the 2nd quarter. Alliancebernstein L.P. now owns 4,497,847 shares of the energy company’s stock worth $74,349,000 after purchasing an additional 504,248 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of SM Energy by 66.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,211,268 shares of the energy company’s stock worth $69,611,000 after purchasing an additional 1,688,246 shares during the last quarter. 96.76% of the stock is currently owned by institutional investors.
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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