Q1 2024 Earnings Forecast for SM Energy (NYSE:SM) Issued By Capital One Financial

SM Energy (NYSE:SM) – Analysts at Capital One Financial lowered their Q1 2024 earnings per share (EPS) estimates for SM Energy in a note issued to investors on Wednesday, April 17th. Capital One Financial analyst B. Velie now expects that the energy company will earn $1.29 per share for the quarter, down from their previous estimate of $1.34. The consensus estimate for SM Energy’s current full-year earnings is $6.21 per share. Capital One Financial also issued estimates for SM Energy’s Q2 2024 earnings at $1.56 EPS, Q3 2024 earnings at $1.64 EPS, Q4 2024 earnings at $1.71 EPS and FY2024 earnings at $6.19 EPS.

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

Other analysts have also issued research reports about the company. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 price objective on shares of SM Energy in a report on Monday, February 5th. Seaport Res Ptn raised shares of SM Energy from a “neutral” rating to a “buy” rating in a report on Wednesday, January 31st. KeyCorp raised their price objective on shares of SM Energy from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Wells Fargo & Company lifted their target price on shares of SM Energy from $45.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Raymond James dropped their price target on shares of SM Energy from $53.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, January 8th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.86.

SM Energy Trading Up 0.1 %

Shares of SM opened at $48.09 on Friday. The stock’s 50-day moving average price is $46.20 and its 200 day moving average price is $40.90. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 7.00 and a beta of 4.20. SM Energy has a 12-month low of $25.03 and a 12-month high of $53.26.

SM Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Thursday, April 18th. SM Energy’s dividend payout ratio (DPR) is currently 10.48%.

Institutional Trading of SM Energy

Several large investors have recently added to or reduced their stakes in SM. PNC Financial Services Group Inc. grew its holdings in shares of SM Energy by 41.0% during the first quarter. PNC Financial Services Group Inc. now owns 8,075 shares of the energy company’s stock worth $314,000 after purchasing an additional 2,348 shares during the last quarter. Natixis Advisors L.P. grew its holdings in SM Energy by 28.4% during the 1st quarter. Natixis Advisors L.P. now owns 20,390 shares of the energy company’s stock worth $794,000 after acquiring an additional 4,513 shares during the last quarter. MetLife Investment Management LLC increased its position in SM Energy by 55.1% in the 1st quarter. MetLife Investment Management LLC now owns 63,571 shares of the energy company’s stock valued at $2,476,000 after acquiring an additional 22,582 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of SM Energy by 2.5% in the first quarter. Great West Life Assurance Co. Can now owns 110,627 shares of the energy company’s stock worth $4,431,000 after acquiring an additional 2,680 shares during the last quarter. Finally, Cibc World Market Inc. bought a new position in shares of SM Energy in the first quarter worth about $1,226,000. 94.56% of the stock is owned by institutional investors.

About SM Energy

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.