Unveiling Evolution Petroleum (EPM) Q3 Outlook: Wall Street Estimates for Key Metrics

In its upcoming report, Evolution Petroleum (EPM) is predicted by Wall Street analysts to post quarterly earnings of $0.04 per share, reflecting an increase of 33.3% compared to the same period last year. Revenues are forecasted to be $22.34 million, representing a year-over-year decrease of 3%.The consensus EPS estimate for the quarter has been revised 75% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.Bearing this in mind, let's now explore the average estimates of specific Evolution Petroleum metrics that are commonly monitored and projected by Wall Street analysts.Analysts predict that the 'Total Oil and gas production per day' will reach 6,876.00 BOE/D. Compared to the present estimate, the company reported 7,209 BOE/D in the same quarter last year.The consensus estimate for 'Average sales price - Crude oil' stands at $67.70. Compared to the current estimate, the company reported $73.06 in the same quarter of the previous year.According to the collective judgment of analysts, 'Average sales price - Natural gas liquids' should come in at $25.22. The estimate compares to the year-ago value of $25.26.Analysts expect 'Production - Natural gas' to come in at 2,008,765.00 MMcf. Compared to the current estimate, the company reported 2,115,000 MMcf in the same quarter of the previous year.It is projected by analysts that the 'Production - Crude oil' will reach 184,505.00 MBBL. Compared to the present estimate, the company reported 199,000 MBBL in the same quarter last year.Analysts forecast 'Production - Natural gas liquids' to reach 103,020.00 MBBL. Compared to the current estimate, the company reported 104,000 MBBL in the same quarter of the previous year.View all Key Company Metrics for Evolution Petroleum here>>>Evolution Petroleum shares have witnessed a change of -1.2% in the past month, in contrast to the Zacks S&P 500 composite's +13.7% move. With a Zacks Rank #5 (Strong Sell), EPM is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 Evolution Petroleum Corporation, Inc. (EPM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks