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Diamondback Energy (FANG) Flat As Market Sinks: What You Should Know
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Diamondback Energy (FANG - Free Report) closed the most recent trading day at $134.44, making no change from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.72%. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq gained 0.33%.
Prior to today's trading, shares of the energy exploration and production company had gained 3.27% over the past month. This has lagged the Oils-Energy sector's gain of 4.9% and outpaced the S&P 500's loss of 6.24% in that time.
Investors will be hoping for strength from Diamondback Energy as it approaches its next earnings release. The company is expected to report EPS of $4.75, up 106.52% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.87 billion, up 58.36% from the year-ago period.
FANG's full-year Zacks Consensus Estimates are calling for earnings of $19.73 per share and revenue of $7.67 billion. These results would represent year-over-year changes of +72.62% and +12.78%, respectively.
Investors should also note any recent changes to analyst estimates for Diamondback Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 past month, the Zacks Consensus EPS estimate has moved 5.64% higher. Diamondback Energy is currently a Zacks Rank #3 (Hold).
In terms of valuation, Diamondback Energy is currently trading at a Forward P/E ratio of 6.81. Its industry sports an average Forward P/E of 6.96, so we one might conclude that Diamondback Energy is trading at a discount comparatively.
We can also see that FANG currently has a PEG ratio of 0.31. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.31 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 68, putting it in the top 27% of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Diamondback Energy (FANG) Flat As Market Sinks: What You Should Know
Diamondback Energy (FANG - Free Report) closed the most recent trading day at $134.44, making no change from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.72%. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq gained 0.33%.
Prior to today's trading, shares of the energy exploration and production company had gained 3.27% over the past month. This has lagged the Oils-Energy sector's gain of 4.9% and outpaced the S&P 500's loss of 6.24% in that time.
Investors will be hoping for strength from Diamondback Energy as it approaches its next earnings release. The company is expected to report EPS of $4.75, up 106.52% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.87 billion, up 58.36% from the year-ago period.
FANG's full-year Zacks Consensus Estimates are calling for earnings of $19.73 per share and revenue of $7.67 billion. These results would represent year-over-year changes of +72.62% and +12.78%, respectively.
Investors should also note any recent changes to analyst estimates for Diamondback Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 past month, the Zacks Consensus EPS estimate has moved 5.64% higher. Diamondback Energy is currently a Zacks Rank #3 (Hold).
In terms of valuation, Diamondback Energy is currently trading at a Forward P/E ratio of 6.81. Its industry sports an average Forward P/E of 6.96, so we one might conclude that Diamondback Energy is trading at a discount comparatively.
We can also see that FANG currently has a PEG ratio of 0.31. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.31 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 68, putting it in the top 27% of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.