SM Energy Company (SM) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS
SM Energy Company (NYSE:SM) announced its earnings results on Thursday. The energy company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.07, Bloomberg Earnings reports. SM Energy had a negative return on equity of 3.11% and a negative net margin of 20.67%. The firm had revenue of $295.40 million during the quarter, compared to the consensus estimate of $300.80 million. During the same quarter in the prior year, the company earned ($0.37) EPS. The firm’s revenue for the quarter was down 16.2% compared to the same quarter last year.
The business also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 20th were issued a $0.05 dividend. The ex-dividend date was Thursday, October 19th. This represents a dividend yield of 0.54%. SM Energy’s payout ratio is presently -3.19%.
Several brokerages recently weighed in on SM. BMO Capital Markets set a $21.00 target price on SM Energy and gave the company a “hold” rating in a research note on Tuesday, October 10th. Zacks Investment Research downgraded SM Energy from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Williams Capital restated a “buy” rating and set a $30.00 target price on shares of SM Energy in a research note on Friday, September 15th. Royal Bank Of Canada set a $20.00 price objective on SM Energy and gave the stock a “hold” rating in a research report on Thursday, August 24th. Finally, Barclays PLC reduced their price objective on SM Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, August 8th. 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 stock. SM Energy currently has an average rating of “Hold” and an average target price of $27.79.
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SM Energy Company Profile
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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