Research Analysts Issue Forecasts for SM Energy Co’s Q3 2018 Earnings (SM)
SM Energy Co (NYSE:SM) – Analysts at Seaport Global Securities lifted their Q3 2018 earnings estimates for shares of SM Energy in a research report issued to clients and investors on Friday, October 19th. Seaport Global Securities analyst M. Kelly now anticipates that the energy company will post earnings of $0.07 per share for the quarter, up from their previous estimate of $0.03. Seaport Global Securities also issued estimates for SM Energy’s FY2018 earnings at $0.19 EPS, Q1 2019 earnings at $0.28 EPS, Q2 2019 earnings at $0.27 EPS and FY2019 earnings at $1.28 EPS.
Several other equities analysts have also weighed in on SM. TheStreet raised shares of SM Energy from a “d+” rating to a “c-” rating in a report on Monday, July 9th. B. Riley lowered shares of SM Energy from a “buy” rating to a “neutral” rating and set a $28.00 target price for the company. in a report on Thursday, July 12th. Royal Bank of Canada reaffirmed a “hold” rating and set a $26.00 target price on shares of SM Energy in a report on Friday, July 20th. Stifel Nicolaus lifted their target price on shares of SM Energy from $40.00 to $41.00 and gave the company a “buy” rating in a report on Friday, July 20th. Finally, JPMorgan Chase & Co. lifted their target price on shares of SM Energy from $32.00 to $36.00 and gave the company a “$26.55” rating in a report on Monday, July 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. SM Energy presently has a consensus rating of “Buy” and a consensus target price of $31.60.
SM Energy (NYSE:SM) last announced its quarterly earnings data on Thursday, August 2nd. The energy company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.06 by $0.09. SM Energy had a net margin of 11.85% and a negative return on equity of 0.43%. The business had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $371.54 million. During the same period in the previous year, the business posted ($0.32) EPS. The business’s quarterly revenue was up 41.3% compared to the same quarter last year.
The business also recently declared a semiannual dividend, which will be paid on Wednesday, November 7th. Investors of record on Friday, October 26th will be issued a $0.05 dividend. This represents a yield of 0.31%. The ex-dividend date of this dividend is Thursday, October 25th. SM Energy’s payout ratio is presently -12.20%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Qube Research & Technologies Ltd purchased a new stake in SM Energy in the 2nd quarter worth $109,000. Cerebellum GP LLC purchased a new stake in SM Energy in the 2nd quarter worth $181,000. Russell Investments Group Ltd. increased its holdings in SM Energy by 50.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,685 shares of the energy company’s stock worth $199,000 after acquiring an additional 2,570 shares in the last quarter. Cypress Asset Management Inc. TX purchased a new stake in SM Energy in the 2nd quarter worth $218,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in SM Energy in the 2nd quarter worth $259,000.
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. It primarily has operations in the Midland Basin and the Eagle Ford shale in Texas. As of December 31, 2017, the company had 468.1 million barrels of oil equivalent of estimated proved reserves; and working interests in 919 net productive oil wells and 489 net productive gas wells.
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