Canaccord Genuity Reaffirms Buy Rating on SM Energy (SM)

By admin | 7 years ago

SM Energy (NYSE: SM)‘s stock had its “buy” rating reaffirmed by research analysts at Canaccord Genuity in a report released on Friday.

Shares of SM Energy traded up 3.01% during mid-day trading on Friday, hitting $66.49. SM Energy has a 52 week low of $53.45 and a 52 week high of $88.50. The company has a market cap of $4.265 billion and a P/E ratio of 17.02.

SM Energy last announced its earnings results on Wednesday, May 2nd. The company reported $0.48 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.53 by $0.05. The company’s quarterly revenue was up 19.7% on a year-over-year basis. On average, analysts predict that SM Energy will post $0.64 earnings per share next quarter.

Several other analysts have also recently commented on the stock. Analysts at Societe Generale initiated coverage on shares of SM Energy in a research note to investors on Monday, April 23rd. They set a “hold” rating on the stock. Separately, analysts at Zacks downgraded shares of SM Energy from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, April 19th. They now have a $68.00 price target on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of SM Energy from $105.00 to $115.00 in a research note to investors on Monday, March 5th. They now have a “buy” rating on the stock.

SM Energy Company, formerly St. Mary Land & Exploration Company, is an independent energy company engaged in the acquisition, exploration, exploitation, development and production of natural gas and crude oil in North America, with a focus on oil- and liquids-rich resource plays.

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