SM Energy Drops 1.31% as Investors Await Earnings
The shares lagged major U.S. indexes, while Zacks consensus estimates point to higher quarterly and full-year earnings and revenue.
SM Energy fell 1.31% to $33.11 at the latest close, underperforming the S&P 500, which lost 0.17%. The Dow fell 0.26%, while the Nasdaq slipped 0.09%.
The oil and gas producer’s shares are down 9.76% over the past month. In that period, the Oils-Energy sector gained 0.04%, while the S&P 500 fell 0.24%.
Ahead of the company’s upcoming earnings report, Zacks consensus estimates call for earnings of $1.81 per share and revenue of $1.89 billion. Those forecasts represent increases of 36.09% and 132.36%, respectively, from the same quarter a year earlier.
For the full year, Zacks projects earnings of $7.49 per share and revenue of $7.38 billion. The consensus earnings estimate has risen 0.42% over the past month.
SM Energy has a forward price-to-earnings ratio of 4.48, compared with an industry average of 8.99, according to the article. The company’s next earnings release is a key event for investors watching whether results match those forecasts.
This article was produced with the help of AI technology.
Source: Yahoo Finance
