Antero Resources (AR) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Antero Resources (AR) closed at $29.18, marking a -0.27% move from the previous day. This move lagged the S&P 500's daily gain of 1.1%. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 6.59%.
Prior to today's trading, shares of the oil and natural gas producer had lost 4.94% over the past month. This has lagged the Oils-Energy sector's gain of 2.39% and the S&P 500's gain of 4.58% in that time.
Investors will be hoping for strength from Antero Resources as it approaches its next earnings release, which is expected to be February 15, 2023. On that day, Antero Resources is projected to report earnings of $1.14 per share, which would represent year-over-year growth of 147.83%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.69 billion, down 29.37% from the year-ago period.
Any recent changes to analyst estimates for Antero Resources should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 20.06% lower within the past month. Antero Resources currently has a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Antero Resources is currently trading at a Forward P/E ratio of 5.15. For comparison, its industry has an average Forward P/E of 5.72, which means Antero Resources is trading at a discount to the group.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 248, which puts it in the bottom 2% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Antero Resources Corporation (AR) : Free Stock Analysis Report
To read this article on Zacks.com click here.