Capital One Financial Predicts SM Energy FY2024 Earnings

SM Energy (NYSE:SM) – Analysts at Capital One Financial lowered their FY2024 earnings per share (EPS) estimates for shares of SM Energy in a research report issued to clients and investors on Tuesday, November 5th. Capital One Financial analyst B. Velie now anticipates that the energy company will post earnings of $6.69 per share for the year, down from their prior forecast of $6.82. The consensus estimate for SM Energy’s current full-year earnings is $7.05 per share. Capital One Financial also issued estimates for SM Energy’s Q4 2024 earnings at $1.81 EPS.

A number of other equities analysts have also weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price objective on shares of SM Energy in a report on Tuesday, October 8th. TD Cowen upgraded shares of SM Energy from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $64.00 to $60.00 in a report on Tuesday, October 15th. BMO Capital Markets decreased their price objective on shares of SM Energy from $50.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, October 4th. StockNews.com lowered shares of SM Energy from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Finally, Susquehanna decreased their price objective on shares of SM Energy from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Tuesday. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.73.

SM Energy Price Performance

Shares of NYSE SM opened at $41.07 on Wednesday. SM Energy has a twelve month low of $34.13 and a twelve month high of $53.26. The firm has a market cap of $4.70 billion, a P/E ratio of 5.71 and a beta of 4.18. The company has a 50 day moving average of $42.31 and a 200 day moving average of $45.19. The company has a quick ratio of 1.29, a current ratio of 3.52 and a debt-to-equity ratio of 0.67.

SM Energy (NYSE:SM) last issued its quarterly earnings results on Thursday, October 31st. The energy company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.10. SM Energy had a return on equity of 19.62% and a net margin of 33.89%. The firm had revenue of $643.60 million for the quarter, compared to analysts’ expectations of $643.67 million. During the same period in the previous year, the firm posted $1.73 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year.

SM Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were paid a $0.20 dividend. The ex-dividend date was Friday, October 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.95%. This is an increase from SM Energy’s previous quarterly dividend of $0.18. SM Energy’s dividend payout ratio (DPR) is 11.17%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Jupiter Asset Management Ltd. bought a new stake in SM Energy during the 1st quarter valued at approximately $5,614,000. Foundry Partners LLC raised its stake in SM Energy by 1,733.5% during the 1st quarter. Foundry Partners LLC now owns 102,307 shares of the energy company’s stock valued at $5,100,000 after purchasing an additional 96,727 shares during the period. SG Americas Securities LLC bought a new stake in SM Energy during the 1st quarter valued at approximately $710,000. Wedge Capital Management L L P NC raised its stake in SM Energy by 4.8% during the 2nd quarter. Wedge Capital Management L L P NC now owns 593,241 shares of the energy company’s stock valued at $25,646,000 after purchasing an additional 27,405 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in SM Energy by 19.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 764,118 shares of the energy company’s stock valued at $38,093,000 after purchasing an additional 124,450 shares during the period. Institutional investors own 94.56% of the company’s stock.

SM Energy Company Profile

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.