EOG Resources’ Recent Movement
EOG Resources (EOG) wrapped up the latest trading session at $126.08, indicating a modest uptick of +0.3% from the day before. However, the stock fell short of the S&P 500, which saw a 0.32% daily rise. Meanwhile, the Dow and Nasdaq experienced gains of 0.68% and 0.2%, respectively.
Insights into Earnings Performance
As investors eagerly await EOG Resources’ earnings report on May 3, 2024, expectations are set for an EPS of $2.68, reflecting a slight decrease from the previous year. Revenue forecasts anticipate a 0.79% decline to $6 billion compared to the same quarter last year. Looking ahead, analysts predict full-year earnings of $11.40 per share and revenue of $24.6 billion, signaling changes of -2.48% and +1.72%, respectively.
Analyst Estimate Revisions and Optimism
Analyst estimates for EOG Resources have seen recent adjustments, often mirroring short-term business trends. Positive revisions in estimates are viewed as a promising sign for the company’s future prospects. Notably, these revisions are closely tied to the stock’s near-term performance, leading to the development of the Zacks Rank system which leverages these changes to provide investors with valuable insights.
Valuation and Comparisons
EOG Resources currently boasts a Forward P/E ratio of 11.03, indicating a slight premium relative to the industry average of 10.94. The company’s PEG ratio stands at 0.38, lower than the sector’s average of 0.71 based on recent data, aligning with the company’s projected earnings growth. Furthermore, the Oil and Gas – Exploration and Production – United States industry, within the Oils-Energy sector, holds a Zacks Industry Rank of 214, placing it in the bottom 16% among over 250 industries.
Zacks Insights and Recommendations
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
