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Enerplus (ERF) Gains But Lags Market: What You Should Know

Zacks Equity Research
·2 min read

Enerplus (ERF) closed at $15.62 in the latest trading session, marking a +0.06% move from the prior day. This move lagged the S&P 500's daily gain of 1.14%. Elsewhere, the Dow gained 1.12%, while the tech-heavy Nasdaq added 0.04%.

Investors will be hoping for strength from Enerplus as it approaches its next earnings release, which is expected to be November 3, 2022. In that report, analysts expect Enerplus to post earnings of $0.89 per share. This would mark year-over-year growth of 178.13%.

It is also important to note the recent changes to analyst estimates for Enerplus. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

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The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.57% lower. Enerplus is currently a Zacks Rank #3 (Hold).

In terms of valuation, Enerplus is currently trading at a Forward P/E ratio of 5.33. This represents a discount compared to its industry's average Forward P/E of 5.48.

The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 214, putting it in the bottom 16% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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Zacks Investment Research