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In the latest trading session, Magnolia Oil & Gas Corp (MGY) closed at $21.05, marking a +0.29% move from the previous day. This change lagged the S&P 500's 1.06% gain on the day. Meanwhile, the Dow gained 1.05%, and the Nasdaq, a tech-heavy index, added 0.4%.
Heading into today, shares of the company had lost 23.34% over the past month, lagging the Oils-Energy sector's loss of 14.41% and the S&P 500's loss of 8.3% in that time.
Magnolia Oil & Gas Corp will be looking to display strength as it nears its next earnings release. On that day, Magnolia Oil & Gas Corp is projected to report earnings of $0.94 per share, which would represent year-over-year growth of 67.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $452.07 million, up 80.3% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.39 per share and revenue of $1.73 billion, which would represent changes of +81.4% and +60.71%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Magnolia Oil & Gas Corp. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 3.54% higher. Magnolia Oil & Gas Corp is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Magnolia Oil & Gas Corp has a Forward P/E ratio of 4.78 right now. For comparison, its industry has an average Forward P/E of 4.14, which means Magnolia Oil & Gas Corp is trading at a premium to the group.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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