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Hess (HES) Stock Sinks As Market Gains: What You Should Know
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Hess (HES - Free Report) closed at $140.88 in the latest trading session, marking a -0.94% move from the prior day. This move lagged the S&P 500's daily gain of 0.36%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 1.91%.
Heading into today, shares of the oil and gas producer had gained 4.67% over the past month, outpacing the Oils-Energy sector's loss of 2.56% and the S&P 500's gain of 1.24% in that time.
Investors will be hoping for strength from Hess as it approaches its next earnings release, which is expected to be April 26, 2023. The company is expected to report EPS of $1.24, down 4.62% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.48 billion, up 4.79% from the year-ago period.
HES's full-year Zacks Consensus Estimates are calling for earnings of $6.29 per share and revenue of $10.94 billion. These results would represent year-over-year changes of -11.53% and -5.43%, respectively.
Investors might also notice recent changes to analyst estimates for Hess. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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. Within the past 30 days, our consensus EPS projection has moved 15% lower. Hess currently has a Zacks Rank of #3 (Hold).
Investors should also note Hess's current valuation metrics, including its Forward P/E ratio of 22.61. Its industry sports an average Forward P/E of 10.68, so we one might conclude that Hess is trading at a premium comparatively.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 42% 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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Hess (HES) Stock Sinks As Market Gains: What You Should Know
Hess (HES - Free Report) closed at $140.88 in the latest trading session, marking a -0.94% move from the prior day. This move lagged the S&P 500's daily gain of 0.36%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 1.91%.
Heading into today, shares of the oil and gas producer had gained 4.67% over the past month, outpacing the Oils-Energy sector's loss of 2.56% and the S&P 500's gain of 1.24% in that time.
Investors will be hoping for strength from Hess as it approaches its next earnings release, which is expected to be April 26, 2023. The company is expected to report EPS of $1.24, down 4.62% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.48 billion, up 4.79% from the year-ago period.
HES's full-year Zacks Consensus Estimates are calling for earnings of $6.29 per share and revenue of $10.94 billion. These results would represent year-over-year changes of -11.53% and -5.43%, respectively.
Investors might also notice recent changes to analyst estimates for Hess. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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. Within the past 30 days, our consensus EPS projection has moved 15% lower. Hess currently has a Zacks Rank of #3 (Hold).
Investors should also note Hess's current valuation metrics, including its Forward P/E ratio of 22.61. Its industry sports an average Forward P/E of 10.68, so we one might conclude that Hess is trading at a premium comparatively.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 42% 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.