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APA (APA) Surpasses Market Returns: Some Facts Worth Knowing
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In the latest market close, APA (APA - Free Report) reached $31.67, with a +0.67% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.64%. At the same time, the Dow added 1.85%, and the tech-heavy Nasdaq gained 0.2%.
Prior to today's trading, shares of the oil and natural gas producer had gained 12.6% over the past month. This has outpaced the Oils-Energy sector's loss of 8% and the S&P 500's gain of 3.82% in that time.
Analysts and investors alike will be keeping a close eye on the performance of APA in its upcoming earnings disclosure. The company's earnings report is set to go public on July 31, 2024. The company is predicted to post an EPS of $1.15, indicating a 35.29% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.34 billion, indicating a 19.31% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.43 per share and revenue of $9.17 billion, indicating changes of -2.21% and +12.29%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for APA. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.17% rise in the Zacks Consensus EPS estimate. As of now, APA holds a Zacks Rank of #3 (Hold).
Digging into valuation, APA currently has a Forward P/E ratio of 7.1. This valuation marks a discount compared to its industry's average Forward P/E of 11.11.
One should further note that APA currently holds a PEG ratio of 0.38. 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 average PEG ratio for the Oil and Gas - Exploration and Production - United States industry stood at 1.2 at the close of the market yesterday.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 79, which puts it in the top 32% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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APA (APA) Surpasses Market Returns: Some Facts Worth Knowing
In the latest market close, APA (APA - Free Report) reached $31.67, with a +0.67% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.64%. At the same time, the Dow added 1.85%, and the tech-heavy Nasdaq gained 0.2%.
Prior to today's trading, shares of the oil and natural gas producer had gained 12.6% over the past month. This has outpaced the Oils-Energy sector's loss of 8% and the S&P 500's gain of 3.82% in that time.
Analysts and investors alike will be keeping a close eye on the performance of APA in its upcoming earnings disclosure. The company's earnings report is set to go public on July 31, 2024. The company is predicted to post an EPS of $1.15, indicating a 35.29% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.34 billion, indicating a 19.31% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.43 per share and revenue of $9.17 billion, indicating changes of -2.21% and +12.29%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for APA. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.17% rise in the Zacks Consensus EPS estimate. As of now, APA holds a Zacks Rank of #3 (Hold).
Digging into valuation, APA currently has a Forward P/E ratio of 7.1. This valuation marks a discount compared to its industry's average Forward P/E of 11.11.
One should further note that APA currently holds a PEG ratio of 0.38. 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 average PEG ratio for the Oil and Gas - Exploration and Production - United States industry stood at 1.2 at the close of the market yesterday.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 79, which puts it in the top 32% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.