SM Energy Co (NYSE:SM) Expected to Post Quarterly Sales of $405.23 Million

Equities research analysts expect that SM Energy Co (NYSE:SM) will post $405.23 million in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for SM Energy’s earnings, with the highest sales estimate coming in at $418.50 million and the lowest estimate coming in at $385.50 million. SM Energy posted sales of $394.19 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.8%. The company is expected to announce its next earnings results on Wednesday, February 19th.

According to Zacks, analysts expect that SM Energy will report full year sales of $1.55 billion for the current financial year, with estimates ranging from $1.52 billion to $1.57 billion. For the next year, analysts expect that the business will report sales of $1.65 billion, with estimates ranging from $1.52 billion to $1.73 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for SM Energy.

SM Energy (NYSE:SM) last issued its earnings results on Thursday, October 31st. The energy company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.01. The company had revenue of $390.30 million for the quarter, compared to analyst estimates of $387.68 million. SM Energy had a negative return on equity of 2.42% and a net margin of 14.67%. The business’s revenue was down 15.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) EPS.

Several brokerages have recently issued reports on SM. Barclays lowered their price target on SM Energy from $13.00 to $9.00 and set an “underweight” rating on the stock in a research report on Friday, August 30th. Williams Capital reissued a “buy” rating and set a $15.00 price objective on shares of SM Energy in a research report on Friday, November 1st. Wells Fargo & Co decreased their target price on SM Energy from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Tuesday, November 12th. Seaport Global Securities lowered SM Energy from a “buy” rating to a “neutral” rating in a report on Thursday, October 10th. Finally, KeyCorp dropped their price target on SM Energy from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. SM Energy currently has a consensus rating of “Hold” and a consensus price target of $17.06.

Several large investors have recently added to or reduced their stakes in SM. Cubist Systematic Strategies LLC raised its stake in SM Energy by 145.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 68,438 shares of the energy company’s stock worth $857,000 after purchasing an additional 40,585 shares in the last quarter. Commonwealth Bank of Australia lifted its stake in SM Energy by 55.8% during the second quarter. Commonwealth Bank of Australia now owns 24,300 shares of the energy company’s stock worth $304,000 after purchasing an additional 8,700 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of SM Energy by 39.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 38,500 shares of the energy company’s stock valued at $417,000 after purchasing an additional 10,800 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of SM Energy by 23.3% in the 3rd quarter. California Public Employees Retirement System now owns 219,338 shares of the energy company’s stock valued at $2,125,000 after purchasing an additional 41,492 shares in the last quarter. Finally, Creative Planning bought a new position in shares of SM Energy in the 2nd quarter valued at $771,000. 98.92% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE SM traded up $0.28 during mid-day trading on Friday, reaching $8.31. 344,114 shares of the company traded hands, compared to its average volume of 3,252,099. The company’s fifty day moving average is $8.51 and its two-hundred day moving average is $10.15. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.63 and a current ratio of 0.63. SM Energy has a fifty-two week low of $6.84 and a fifty-two week high of $21.84. The stock has a market cap of $937.84 million, a PE ratio of 277.00 and a beta of 3.01.

The business also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 6th. Stockholders of record on Friday, October 25th were issued a $0.05 dividend. This represents a dividend yield of 1%. The ex-dividend date of this dividend was Thursday, October 24th. SM Energy’s payout ratio is presently 333.33%.

SM Energy Company Profile

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. As of December 31, 2018, the company had 503.4 million barrels of oil equivalent of estimated proved reserves; and working interests in 715 gross productive oil wells and 504 gross productive gas wells primarily in the Permian, South Texas, and Gulf Coast regions in the United States.

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