SM Energy to Post Q3 2024 Earnings of $2.01 Per Share, Roth Capital Forecasts (NYSE:SM)

SM Energy (NYSE:SM) – Roth Capital lifted their Q3 2024 EPS estimates for SM Energy in a research report issued on Thursday, May 2nd. Roth Capital analyst L. Mariani now anticipates that the energy company will earn $2.01 per share for the quarter, up from their previous estimate of $1.84. The consensus estimate for SM Energy’s current full-year earnings is $6.42 per share. Roth Capital also issued estimates for SM Energy’s FY2024 earnings at $7.15 EPS.

SM Energy (NYSE:SM) last released its quarterly earnings data on Wednesday, February 21st. The energy company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.39 by $0.17. The business had revenue of $608.73 million for the quarter, compared to the consensus estimate of $611.35 million. SM Energy had a net margin of 31.80% and a return on equity of 20.10%. The company’s revenue was down 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 earnings per share.

A number of other brokerages also recently issued reports on SM. Mizuho increased their price target on shares of SM Energy from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Wells Fargo & Company increased their price target on shares of SM Energy from $45.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. KeyCorp increased their price target on shares of SM Energy from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. JPMorgan Chase & Co. increased their price target on shares of SM Energy from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Finally, Susquehanna increased their price target on shares of SM Energy from $42.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.57.

SM Energy Price Performance

NYSE SM opened at $51.16 on Monday. The company has a market cap of $5.92 billion, a PE ratio of 8.02 and a beta of 4.21. SM Energy has a 52 week low of $25.03 and a 52 week high of $53.26. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The firm’s 50-day simple moving average is $48.59 and its two-hundred day simple moving average is $41.72.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Lindbrook Capital LLC grew its position in SM Energy by 54.9% during the first quarter. Lindbrook Capital LLC now owns 581 shares of the energy company’s stock valued at $29,000 after acquiring an additional 206 shares during the last quarter. CWM LLC grew its holdings in shares of SM Energy by 11.3% in the fourth quarter. CWM LLC now owns 2,683 shares of the energy company’s stock worth $104,000 after purchasing an additional 272 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of SM Energy by 1.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 20,125 shares of the energy company’s stock worth $779,000 after purchasing an additional 286 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of SM Energy by 66.8% in the first quarter. UMB Bank n.a. now owns 829 shares of the energy company’s stock worth $41,000 after purchasing an additional 332 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of SM Energy by 31.6% in the fourth quarter. First Horizon Advisors Inc. now owns 1,469 shares of the energy company’s stock worth $57,000 after purchasing an additional 353 shares during the last quarter. 94.56% of the stock is currently owned by institutional investors.

SM Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 3rd. Investors of record on Friday, April 19th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Thursday, April 18th. SM Energy’s dividend payout ratio is currently 11.29%.

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.