SM Energy Forecasted to Earn Q1 2024 Earnings of $1.24 Per Share (NYSE:SM)

SM Energy (NYSE:SMFree Report) – Equities researchers at Seaport Res Ptn lowered their Q1 2024 earnings per share estimates for shares of SM Energy in a research report issued on Tuesday, March 19th. Seaport Res Ptn analyst N. Pope now forecasts that the energy company will earn $1.24 per share for the quarter, down from their prior estimate of $1.25. Seaport Res Ptn currently has a “Buy” rating on the stock. The consensus estimate for SM Energy’s current full-year earnings is $5.62 per share.

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

Several other brokerages have also weighed in on SM. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 target price on shares of SM Energy in a research report on Monday, February 5th. KeyCorp cut their price target on SM Energy from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, January 11th. Mizuho lifted their price target on SM Energy from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Raymond James cut their price target on SM Energy from $53.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, January 8th. Finally, Susquehanna lifted their price target on SM Energy from $38.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $45.86.

Read Our Latest Stock Report on SM Energy

SM Energy Price Performance

Shares of NYSE SM opened at $48.80 on Wednesday. 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 has a fifty-two week low of $24.66 and a fifty-two week high of $48.96. The firm has a market capitalization of $5.68 billion, a PE ratio of 7.10 and a beta of 4.20. The stock’s 50-day simple moving average is $40.39 and its 200-day simple moving average is $39.39.

Hedge Funds Weigh In On SM Energy

Institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC acquired a new position in shares of SM Energy in the third quarter worth $28,000. BluePath Capital Management LLC acquired a new stake in SM Energy during the third quarter worth about $32,000. IFP Advisors Inc increased its stake in SM Energy by 561.7% during the second quarter. IFP Advisors Inc now owns 880 shares of the energy company’s stock worth $28,000 after acquiring an additional 747 shares during the last quarter. First Horizon Advisors Inc. acquired a new stake in SM Energy during the first quarter worth about $25,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in SM Energy by 59.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 990 shares of the energy company’s stock worth $39,000 after acquiring an additional 370 shares during the last quarter. 91.26% of the stock is owned by institutional investors and hedge funds.

SM Energy Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, February 5th. Shareholders of record on Friday, January 19th were given a dividend of $0.18 per share. This represents a yield of 1.5%. This is an increase from SM Energy’s previous semi-annual dividend of $0.15. The ex-dividend date of this dividend was Thursday, January 18th. 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.

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

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