Q2 2024 EPS Estimates for SM Energy (NYSE:SM) Raised by Analyst

SM Energy (NYSE:SMFree Report) – Equities research analysts at Seaport Res Ptn upped their Q2 2024 earnings estimates for shares of SM Energy in a research note issued to investors on Tuesday, March 19th. Seaport Res Ptn analyst N. Pope now forecasts that the energy company will earn $1.56 per share for the quarter, up from their previous forecast of $1.38. Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for SM Energy’s current full-year earnings is $5.62 per share. Seaport Res Ptn also issued estimates for SM Energy’s Q3 2024 earnings at $1.63 EPS, Q4 2024 earnings at $1.64 EPS, FY2024 earnings at $6.07 EPS, Q1 2025 earnings at $1.68 EPS, Q2 2025 earnings at $1.58 EPS, Q3 2025 earnings at $1.64 EPS, Q4 2025 earnings at $1.73 EPS and FY2025 earnings at $6.63 EPS.

A number of other equities analysts have also recently commented on the stock. Raymond James decreased their target price on shares of SM Energy from $53.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, January 8th. Susquehanna lifted their target price on shares of SM Energy from $38.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Mizuho lifted their target price on shares of SM Energy from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $45.00 target price on shares of SM Energy in a research report on Monday, February 5th. Finally, KeyCorp cut their price target on shares of SM Energy from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 11th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, SM Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.86.

View Our Latest Analysis on SM

SM Energy Stock Performance

SM Energy stock opened at $48.80 on Thursday. The stock has a market cap of $5.68 billion, a P/E ratio of 7.10 and a beta of 4.20. The firm’s fifty day moving average price is $40.39 and its 200-day moving average price is $39.39. SM Energy has a fifty-two week low of $24.66 and a fifty-two week high of $48.96. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.45 and a current ratio of 1.45.

SM Energy (NYSE:SMGet Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The energy company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.17. The firm had revenue of $608.73 million for the quarter, compared to analysts’ expectations of $611.35 million. SM Energy had a net margin of 34.45% and a return on equity of 20.74%. The business’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter last year, the company posted $1.29 EPS.

Institutional Investors Weigh In On SM Energy

A number of large investors have recently modified their holdings of the stock. First Horizon Advisors Inc. purchased a new position in SM Energy during the 1st quarter valued at about $25,000. Penserra Capital Management LLC purchased a new position in SM Energy in the third quarter worth about $28,000. IFP Advisors Inc lifted its stake in shares of SM Energy by 561.7% in the second quarter. IFP Advisors Inc now owns 880 shares of the energy company’s stock worth $28,000 after buying an additional 747 shares in the last quarter. BluePath Capital Management LLC bought a new position in shares of SM Energy in the third quarter worth approximately $32,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of SM Energy by 59.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 990 shares of the energy company’s stock worth $39,000 after buying an additional 370 shares in the last quarter. Institutional investors own 91.26% of the company’s stock.

SM Energy Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, February 5th. Stockholders of record on Friday, January 19th were paid a dividend of $0.18 per share. This is a positive change from SM Energy’s previous semi-annual dividend of $0.15. The ex-dividend date of this dividend was Thursday, January 18th. This represents a dividend yield of 1.5%. SM Energy’s payout ratio is presently 10.48%.

About SM Energy

(Get Free Report)

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, gas, and natural gas liquids in the state of Texas. It has working interests in oil and gas producing wells in the Midland Basin and South Texas. The company was formerly known as St.

See Also

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

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