Analysts Set Expectations for SM Energy FY2024 Earnings

SM Energy (NYSE:SM) – Capital One Financial upped their FY2024 earnings per share estimates for shares of SM Energy in a report released on Wednesday, January 8th. Capital One Financial analyst B. Velie now expects that the energy company will post earnings per share of $6.72 for the year, up from their previous estimate of $6.69. The consensus estimate for SM Energy’s current full-year earnings is $6.77 per share. Capital One Financial also issued estimates for SM Energy’s Q4 2024 earnings at $1.83 EPS, Q1 2025 earnings at $1.95 EPS, Q2 2025 earnings at $1.87 EPS, Q3 2025 earnings at $1.93 EPS, Q4 2025 earnings at $1.94 EPS, FY2025 earnings at $7.69 EPS and FY2026 earnings at $6.69 EPS.

SM Energy (NYSE:SM) last released its quarterly earnings results on Thursday, October 31st. The energy company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.10. SM Energy had a net margin of 33.89% and a return on equity of 19.62%. The business had revenue of $643.60 million for the quarter, compared to the consensus estimate of $643.67 million. During the same period last year, the firm earned $1.73 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis.

A number of other brokerages have also weighed in on SM. Mizuho dropped their target price on shares of SM Energy from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $50.00 price objective on shares of SM Energy in a report on Tuesday, October 8th. Wells Fargo & Company reduced their target price on SM Energy from $47.00 to $45.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Susquehanna dropped their price target on SM Energy from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Finally, Stephens reaffirmed an “overweight” rating and issued a $57.00 price objective on shares of SM Energy in a research note on Thursday, January 2nd. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, SM Energy presently has a consensus rating of “Moderate Buy” and an average target price of $51.90.

SM Energy Trading Up 0.3 %

Shares of NYSE:SM opened at $43.86 on Monday. The stock has a 50 day moving average of $41.70 and a 200 day moving average of $42.75. The company has a market cap of $5.02 billion, a PE ratio of 6.13 and a beta of 4.14. SM Energy has a 12-month low of $34.76 and a 12-month high of $53.26. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.67.

SM Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 24th will be issued a $0.20 dividend. The ex-dividend date is Friday, January 24th. This represents a $0.80 annualized dividend and a dividend yield of 1.82%. SM Energy’s dividend payout ratio is currently 11.17%.

Institutional Trading of SM Energy

Hedge funds have recently bought and sold shares of the stock. Barclays PLC boosted its holdings in shares of SM Energy by 47.3% in the 3rd quarter. Barclays PLC now owns 250,218 shares of the energy company’s stock valued at $10,002,000 after buying an additional 80,343 shares in the last quarter. National Bank of Canada FI acquired a new stake in SM Energy in the third quarter worth about $259,000. Los Angeles Capital Management LLC grew its stake in shares of SM Energy by 79.2% during the third quarter. Los Angeles Capital Management LLC now owns 65,421 shares of the energy company’s stock worth $2,615,000 after acquiring an additional 28,920 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of SM Energy during the third quarter valued at about $3,048,000. Finally, Janney Montgomery Scott LLC increased its holdings in shares of SM Energy by 144.6% during the third quarter. Janney Montgomery Scott LLC now owns 22,357 shares of the energy company’s stock valued at $894,000 after acquiring an additional 13,215 shares in the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.

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.