In the latest close session, APA (APA) was up +1.54% at $32.36. At the same time, the Dow added 1.14%, and the tech-heavy Nasdaq lost 0.8%.
Prior to today's trading, shares of the oil and natural gas producer had lost 16.85% lagged the Oils-Energy sector's loss of 7.07% and the S&P 500's loss of 1.43%.
Market participants will be closely following the financial results of APA in its upcoming release. It is anticipated that the company will report an EPS of $1.75, marking a 101.15% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $2.46 billion, down 5.79% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.35 per share and revenue of $9.09 billion. These totals would mark changes of +41.91% and -1.37%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for APA. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.75% lower. APA is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, APA is currently exchanging hands at a Forward P/E ratio of 5.95. This expresses a discount compared to the average Forward P/E of 8.84 of its industry.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 157, placing it within the bottom 37% of over 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).