$411.87 Million in Sales Expected for SM Energy Co (NYSE:SM) This Quarter

Wall Street brokerages expect SM Energy Co (NYSE:SM) to post sales of $411.87 million for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for SM Energy’s earnings, with estimates ranging from $383.00 million to $434.00 million. SM Energy reported sales of $459.37 million in the same quarter last year, which indicates a negative year over year growth rate of 10.3%. The company is expected to issue its next earnings report on Thursday, November 7th.

According to Zacks, analysts expect that SM Energy will report full year sales of $1.58 billion for the current year, with estimates ranging from $1.50 billion to $1.64 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.87 billion, with estimates ranging from $1.68 billion to $2.30 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover SM Energy.

SM Energy (NYSE:SM) last announced its earnings results on Thursday, August 1st. The energy company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.13. The firm had revenue of $407.17 million for the quarter, compared to the consensus estimate of $407.53 million. SM Energy had a net margin of 2.91% and a negative return on equity of 2.07%. During the same period last year, the company posted $0.15 EPS.

Several analysts have commented on SM shares. KeyCorp started coverage on shares of SM Energy in a report on Thursday, June 27th. They set a “sector weight” rating on the stock. Barclays downgraded shares of SM Energy from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $18.00 to $13.00 in a report on Monday, July 1st. ValuEngine upgraded shares of SM Energy from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. SunTrust Banks started coverage on shares of SM Energy in a report on Tuesday, July 30th. They set a “hold” rating and a $10.00 target price on the stock. Finally, Raymond James dropped their target price on shares of SM Energy from $20.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, July 18th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. SM Energy currently has a consensus rating of “Hold” and an average target price of $21.83.

SM stock traded up $0.67 during mid-day trading on Friday, hitting $9.81. 3,280,400 shares of the company were exchanged, compared to its average volume of 3,110,470. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market cap of $1.16 billion, a P/E ratio of 327.00 and a beta of 2.97. The firm’s 50 day simple moving average is $10.37 and its 200 day simple moving average is $14.30. SM Energy has a 1-year low of $8.51 and a 1-year high of $33.76.

In other news, EVP David W. Copeland bought 10,000 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average cost of $12.71 per share, for a total transaction of $127,100.00. Following the completion of the acquisition, the executive vice president now owns 106,454 shares in the company, valued at $1,353,030.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of SM. Amundi Pioneer Asset Management Inc. bought a new stake in shares of SM Energy in the second quarter valued at about $414,000. Voloridge Investment Management LLC boosted its position in shares of SM Energy by 126.8% in the second quarter. Voloridge Investment Management LLC now owns 141,660 shares of the energy company’s stock valued at $1,774,000 after acquiring an additional 79,191 shares during the period. Nuveen Asset Management LLC boosted its position in shares of SM Energy by 51.3% in the second quarter. Nuveen Asset Management LLC now owns 854,721 shares of the energy company’s stock valued at $10,701,000 after acquiring an additional 289,734 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of SM Energy by 11.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 103,492 shares of the energy company’s stock valued at $1,296,000 after acquiring an additional 10,794 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of SM Energy in the second quarter valued at about $132,000. Institutional investors and hedge funds own 98.97% of the company’s stock.

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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Earnings History and Estimates for SM Energy (NYSE:SM)

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