In the latest trading session, Diamondback Energy (FANG) closed at $187.56, marking a +0.85% move from the previous day. The stock’s performance was ahead of the S&P 500’s daily gain of 0.77%. At the same time, the Dow added 0.49%, and the tech-heavy Nasdaq gained 0.95%.
The the stock of energy exploration and production company has fallen by 5.92% in the past month, leading the Oils-Energy sector’s loss of 7.24% and undershooting the S&P 500’s gain of 3.71%.
Market participants will be closely following the financial results of Diamondback Energy in its upcoming release. On that day, Diamondback Energy is projected to report earnings of $4.81 per share, which would represent year-over-year growth of 30.71%. Meanwhile, the latest consensus estimate predicts the revenue to be $2.27 billion, indicating a 18.17% increase compared to the same quarter of the previous year.
FANG’s full-year Zacks Consensus Estimates are calling for earnings of $19.13 per share and revenue of $9.25 billion. These results would represent year-over-year changes of +6.22% and +10%, respectively.
It’s also important for investors to be aware of any recent modifications to analyst estimates for Diamondback Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts’ favorable outlook on the company’s business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.65% higher. At present, Diamondback Energy boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Diamondback Energy is at present trading with a Forward P/E ratio of 9.72. This represents no noticeable deviation compared to its industry’s average Forward P/E of 9.72.
The Oil and Gas – Exploration and Production – United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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