Baytex Power (BTE) got here out with quarterly earnings of $0.17 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.11 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 21.43%. 1 / 4 in the past, it was anticipated that this oil and pure gasoline firm would submit earnings of $0.12 per share when it truly produced earnings of $0.09, delivering a shock of -25%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates two instances.
Baytex
The sustainability of the inventory’s quick 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 13.9% because the starting of the 12 months versus the S&P 500’s achieve of 21.9%.
What’s Subsequent for Baytex?
Whereas Baytex has underperformed the market up to now this 12 months, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There aren’t 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 embody 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 developments in earnings estimate revisions. Traders can monitor such revisions by themselves or depend on a tried-and-tested score software just like the Zacks Rank, which has a formidable monitor report of harnessing the facility of earnings estimate revisions.
Forward of this earnings release, the estimate revisions development for Baytex: combined. Whereas the magnitude and route 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 consistent with the market within the close to future. You’ll be able to see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Will probably be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.09 on $715.69 million in revenues for the approaching quarter and $0.29 on $3.05 billion in revenues for the present fiscal 12 months.
Traders must be conscious of the truth that the outlook for the business can have a cloth influence on the efficiency of the inventory as nicely. By way of the Zacks Trade Rank, Oil and Fuel – Exploration and Manufacturing – Canadian is presently within the backside 12% 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 other inventory from the identical business, Paramount Sources (PRMRF), has but to report outcomes for the quarter ended September 2024.
This oil and pure gasoline firm is anticipated to submit quarterly earnings of $0.66 per share in its upcoming report, which represents a year-over-year change of +50%. The consensus EPS estimate for the quarter has remained unchanged during the last 30 days.
Paramount Sources’ revenues are anticipated to be $337.69 million, up 5.2% from the year-ago quarter.
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Baytex Energy Corp (BTE) : Free Stock Analysis Report
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