SM Energy Co (SM) Expected to Post Quarterly Sales of $415.96 Million

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Wall Street brokerages forecast that SM Energy Co (NYSE:SM) will announce sales of $415.96 million for the current quarter, according to Zacks. Eight analysts have provided estimates for SM Energy’s earnings. The lowest sales estimate is $385.00 million and the highest is $461.20 million. SM Energy reported sales of $295.38 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 40.8%. The company is scheduled to report its next quarterly earnings report on Thursday, November 1st.

On average, analysts expect that SM Energy will report full year sales of $1.77 billion for the current financial year, with estimates ranging from $1.52 billion to $2.20 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.95 billion, with estimates ranging from $1.79 billion to $2.06 billion. Zacks’ 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 released its earnings results on Thursday, August 2nd. The energy company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. SM Energy had a negative return on equity of 0.43% and a net margin of 11.85%. The business had revenue of $402.60 million for the quarter, compared to analyst estimates of $371.54 million. During the same quarter last year, the firm posted ($0.32) earnings per share. The business’s revenue was up 41.3% compared to the same quarter last year.

A number of research firms have weighed in on SM. KLR Group reiterated a “buy” rating and issued a $40.00 target price on shares of SM Energy in a research note on Monday, August 20th. Citigroup increased their target price on SM Energy to $29.00 and gave the stock a “neutral” rating in a research note on Friday, August 17th. Williams Capital set a $44.00 target price on SM Energy and gave the stock a “buy” rating in a research note on Thursday. Scotiabank upgraded SM Energy from a “sector perform” rating to an “outperform” rating in a research note on Thursday, September 27th. Finally, TheStreet upgraded SM Energy from a “d+” rating to a “c-” rating in a research note on Monday, July 9th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $31.60.

SM stock traded up $0.02 during midday trading on Friday, reaching $29.01. The company’s stock had a trading volume of 1,869,200 shares, compared to its average volume of 3,027,806. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.94. SM Energy has a 1 year low of $16.11 and a 1 year high of $33.76. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of -36.04, a PEG ratio of 7.21 and a beta of 3.03.

The company also recently declared a semiannual dividend, which will be paid on Wednesday, November 7th. Stockholders of record on Friday, October 26th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, October 25th. This represents a dividend yield of 0.31%. SM Energy’s dividend payout ratio is currently -12.20%.

Institutional investors have recently made changes to their positions in the company. Qube Research & Technologies Ltd purchased a new position in shares of SM Energy during the second quarter valued at $109,000. Cerebellum GP LLC purchased a new position in shares of SM Energy during the second quarter valued at $181,000. Russell Investments Group Ltd. increased its stake in shares of SM Energy by 50.2% during the second quarter. Russell Investments Group Ltd. now owns 7,685 shares of the energy company’s stock valued at $199,000 after buying an additional 2,570 shares during the period. Cypress Asset Management Inc. TX purchased a new position in shares of SM Energy during the second quarter valued at $218,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of SM Energy during the second quarter valued at $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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