Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Commodities»Vitesse Energy (VTS) Matches Q2 Earnings Estimates
    Commodities

    Vitesse Energy (VTS) Matches Q2 Earnings Estimates

    August 5, 20244 Mins Read


    Vitesse Energy (VTS) came out with quarterly earnings of $0.35 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.34 per share a year ago. These figures are adjusted for non-recurring items.

    A quarter ago, it was expected that this energy company would post earnings of $0.32 per share when it actually produced earnings of $0.34, delivering a surprise of 6.25%.

    Over the last four quarters, the company has surpassed consensus EPS estimates just once.

    Vitesse, which belongs to the Zacks Oil and Gas – Exploration and Production – United States industry, posted revenues of $66.6 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 4.25%. This compares to year-ago revenues of $51.59 million. The company has topped consensus revenue estimates four times over the last four quarters.

    The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

    Vitesse shares have added about 8% since the beginning of the year versus the S&P 500’s gain of 12.1%.

    What’s Next for Vitesse?

    While Vitesse has underperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?

    There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

    Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

    Ahead of this earnings release, the estimate revisions trend for Vitesse: mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

    It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.44 on $69.72 million in revenues for the coming quarter and $1.64 on $271.48 million in revenues for the current fiscal year.

    Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas – Exploration and Production – United States is currently in the bottom 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

    Permian Resources (PR), another stock in the same industry, has yet to report results for the quarter ended June 2024. The results are expected to be released on August 6.

    This company is expected to post quarterly earnings of $0.36 per share in its upcoming report, which represents a year-over-year change of +33.3%. The consensus EPS estimate for the quarter has been revised 5.9% lower over the last 30 days to the current level.

    Permian Resources’ revenues are expected to be $1.22 billion, up 96.1% from the year-ago quarter.

    Only $1 to See All Zacks’ Buys and Sells

    We’re not kidding.

    Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.

    Thousands have taken advantage of this opportunity. Thousands did not – they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.

    See Stocks Now >>

    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

    Vitesse Energy, Inc. (VTS) : Free Stock Analysis Report

    Permian Resources Corporation (PR) : Free Stock Analysis Report

    To read this article on Zacks.com click here.

    Zacks Investment Research

    The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    China says ‘rampant’ US protectionism threatens agricultural ties

    Commodities

    Oil holds advance as traders focus on supplies and Fed fallout

    Commodities

    Towards an Agricultural Price Commission: Safeguarding Farmers’ Livelihoods

    Commodities

    This Week’s Japanese Game Releases: Metal Gear Solid Delta: Snake Eater, Lost Soul Aside, Super Robot Wars Y, more

    Commodities

    ‘Could fundamentally change how we power our world’

    Commodities

    Your energy drink habit may lead to debilitating nerve damage – and it takes far less than you’d think to reach a toxic overdose

    Commodities
    Leave A Reply Cancel Reply

    Top Picks
    Precious Metal

    Le PDG de Super Copper fournit une mise à jour stratégique au milieu des prix records du cuivre

    Fintech

    EDD Fintech Webinar To Feature Tiffany Austin

    Fintech

    Lloyds Banking Group envisage l’acquisition de la fintech Curve

    Editors Picks

    The Future of Multi-Currency Casinos: Integrating Bitcoin

    October 10, 2024

    IFC and CARICOM to spur green investments across the region

    June 18, 2025

    Gold? Silver stocks? Which is the first domino to fall?

    August 19, 2025

    Silver price today: falls on May 1

    May 1, 2025
    What's Hot

    Utilities Call on Oracle AI to Transform Customer Service

    May 6, 2025

    Cryptocurrency Sui Falls More Than 4% In 24 hours

    October 22, 2024

    Être agent immobilier aux États-Unis, en France et en Europe : quelles différences ?

    June 11, 2025
    Our Picks

    Sébastien Migné dévoile la liste des Grenadiers

    May 26, 2025

    Understanding Cryptocurrency During Divorce

    February 17, 2025

    S&P/TSX composite rise more than 100 points

    August 12, 2025
    Weekly Top

    This Week’s Japanese Game Releases: Metal Gear Solid Delta: Snake Eater, Lost Soul Aside, Super Robot Wars Y, more

    August 24, 2025

    Gold and Silver About to ‘Beeline’ to All-Time Highs, According to Fundstrat Analyst

    August 24, 2025

    Cryptocurrency Live News & Updates : Shiba Inu Price Faces Potential Volatility Ahead

    August 24, 2025
    Editor's Pick

    4 positive impacts of agricultural ethanol production

    January 21, 2025

    A-Mark Precious Metals Sets Fiscal First Quarter Earnings

    October 16, 2024

    Samsung reçoit 58 distinctions dont un Gold Award pour son robot AI Ballie

    March 4, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.