APA (APA) closed the most recent trading day at $25.16, moving +0.96% from the previous trading session. The stock’s change was more than the S&P 500’s daily gain of 0.4%. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.63%.
Prior to today’s trading, shares of the oil and natural gas producer had lost 1.74% over the past month. This has was narrower than the Oils-Energy sector’s loss of 7.82% and lagged the S&P 500’s gain of 3.76% in that time.
Market participants will be closely following the financial results of APA in its upcoming release. The company plans to announce its earnings on November 6, 2024. The company is expected to report EPS of $1.06, down 20.3% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $2.3 billion, indicating a 0.36% decline compared to the corresponding quarter of the prior year.
APA’s full-year Zacks Consensus Estimates are calling for earnings of $4.04 per share and revenue of $9.08 billion. These results would represent year-over-year changes of -10.82% and +11.12%, respectively.
It’s also important for investors to be aware of any recent modifications to analyst estimates for APA. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts’ favorable outlook on the company’s business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we’ve crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.11% downward. APA is currently a Zacks Rank #5 (Strong Sell).
From a valuation perspective, APA is currently exchanging hands at a Forward P/E ratio of 6.17. This signifies a discount in comparison to the average Forward P/E of 10.29 for its industry.
The Oil and Gas – Exploration and Production – United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 237, this industry ranks in the bottom 6% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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APA Corporation (APA) : Free Stock Analysis Report
