Enerplus (ERF) closed the most recent trading day at $20.27, moving +0.6% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.2% for the day. Elsewhere, the Dow gained 0.69%, while the tech-heavy Nasdaq added 1.59%.
The oil and natural gas company’s shares have seen an increase of 5.89% over the last month, surpassing the Oils-Energy sector’s gain of 3.58% and the S&P 500’s loss of 4.16%.
The investment community will be closely monitoring the performance of Enerplus in its forthcoming earnings report. The company’s earnings per share (EPS) are projected to be $0.33, reflecting a 48.44% decrease from the same quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Enerplus. 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we’ve formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 10.93% higher. At present, Enerplus boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Enerplus is currently exchanging hands at a Forward P/E ratio of 9.93. This indicates a premium in contrast to its industry’s Forward P/E of 8.43.
The Oil and Gas – Exploration and Production – Canadian industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 94, placing it within the top 38% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Enerplus Corporation (ERF) : Free Stock Analysis Report
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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.
