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OGE Energy (OGE) Stock Sinks As Market Gains: What You Should Know
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OGE Energy (OGE - Free Report) closed at $38.49 in the latest trading session, marking a -0.85% move from the prior day. This move lagged the S&P 500's daily gain of 1.5%. At the same time, the Dow added 1.12%, and the tech-heavy Nasdaq gained 0.32%.
Heading into today, shares of the energy services company had lost 4.08% over the past month, outpacing the Utilities sector's loss of 10.64% and the S&P 500's loss of 6.54% in that time.
OGE Energy will be looking to display strength as it nears its next earnings release, which is expected to be August 4, 2022. On that day, OGE Energy is projected to report earnings of $0.43 per share, which would represent a year-over-year decline of 23.21%.
Investors should also note any recent changes to analyst estimates for OGE Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. OGE Energy is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that OGE Energy has a Forward P/E ratio of 18.06 right now. This valuation marks a discount compared to its industry's average Forward P/E of 18.66.
It is also worth noting that OGE currently has a PEG ratio of 5.2. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Utility - Electric Power was holding an average PEG ratio of 3.19 at yesterday's closing price.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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OGE Energy (OGE) Stock Sinks As Market Gains: What You Should Know
OGE Energy (OGE - Free Report) closed at $38.49 in the latest trading session, marking a -0.85% move from the prior day. This move lagged the S&P 500's daily gain of 1.5%. At the same time, the Dow added 1.12%, and the tech-heavy Nasdaq gained 0.32%.
Heading into today, shares of the energy services company had lost 4.08% over the past month, outpacing the Utilities sector's loss of 10.64% and the S&P 500's loss of 6.54% in that time.
OGE Energy will be looking to display strength as it nears its next earnings release, which is expected to be August 4, 2022. On that day, OGE Energy is projected to report earnings of $0.43 per share, which would represent a year-over-year decline of 23.21%.
Investors should also note any recent changes to analyst estimates for OGE Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. OGE Energy is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that OGE Energy has a Forward P/E ratio of 18.06 right now. This valuation marks a discount compared to its industry's average Forward P/E of 18.66.
It is also worth noting that OGE currently has a PEG ratio of 5.2. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Utility - Electric Power was holding an average PEG ratio of 3.19 at yesterday's closing price.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.