Baytex Power (BTE) got here out with a quarterly lack of $0.04 per share versus the Zacks Consensus Estimate of $0.12. This compares to earnings of $0.18 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of -133.33%. 1 / 4 in the past, it was anticipated that this oil and pure fuel firm would submit earnings of $0.14 per share when it truly produced earnings of $0.17, delivering a shock of 21.43%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates simply as soon as.
Baytex
The sustainability of the inventory’s speedy value motion primarily based on the recently-released numbers and future earnings expectations will principally rely on administration’s commentary on the earnings name.
Baytex shares have misplaced about 19.4% for the reason that starting of the yr versus the S&P 500’s decline of -0.5%.
What’s Subsequent for Baytex?
Whereas Baytex has underperformed the market to date this yr, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There are not any simple solutions to this key query, however one dependable measure that may assist buyers tackle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified these days.
Empirical analysis exhibits a powerful correlation between near-term inventory actions and tendencies in earnings estimate revisions. Buyers can monitor such revisions by themselves or depend on a tried-and-tested ranking device just like the Zacks Rank, which has a powerful monitor document of harnessing the ability of earnings estimate revisions.
Forward of this earnings release, the estimate revisions pattern for Baytex: blended. Whereas the magnitude and path of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out according to the market within the close to future. You may see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It is going to be fascinating to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.10 on $669.74 million in revenues for the approaching quarter and $0.36 on $2.86 billion in revenues for the present fiscal yr.
Buyers must be conscious of the truth that the outlook for the business can have a fabric influence on the efficiency of the inventory as properly. When it comes to the Zacks Trade Rank, Oil and Fuel – Exploration and Manufacturing – Canadian is at present within the high 36% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
One different inventory from the identical business, Tourmaline Oil Corp. (TRMLF), is but to report outcomes for the quarter ended December 2024.
This firm is anticipated to submit quarterly earnings of $0.83 per share in its upcoming report, which represents a year-over-year change of -43.5%. The consensus EPS estimate for the quarter has remained unchanged over the past 30 days.
Tourmaline Oil Corp.’s revenues are anticipated to be $1.06 billion, down 12.9% from the year-ago quarter.
Ought to You Put money into Baytex Power Corp (BTE)?
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Baytex Energy Corp (BTE) : Free Stock Analysis Report
Tourmaline Oil Corp. (TRMLF) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.
