$45.35 Million in Sales Expected for Rex Energy Corporation (REXX) This Quarter
Equities research analysts expect Rex Energy Corporation (NASDAQ:REXX) to report $45.35 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Rex Energy Corporation’s earnings. The highest sales estimate is $46.58 million and the lowest is $44.00 million. Rex Energy Corporation reported sales of $34.04 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 33.2%. The company is scheduled to announce its next quarterly earnings results on Tuesday, November 14th.
On average, analysts expect that Rex Energy Corporation will report full-year sales of $45.35 million for the current year, with estimates ranging from $199.00 million to $207.60 million. For the next financial year, analysts forecast that the company will post sales of $275.58 million per share, with estimates ranging from $254.80 million to $298.40 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Rex Energy Corporation.
Rex Energy Corporation (NASDAQ:REXX) last posted its quarterly earnings data on Tuesday, August 8th. The oil and gas exploration company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.04. The company had revenue of $47.50 million for the quarter, compared to analyst estimates of $48.49 million. Rex Energy Corporation had a negative net margin of 37.94% and a negative return on equity of 140.84%. Rex Energy Corporation’s quarterly revenue was up 51.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) earnings per share.
A number of brokerages have weighed in on REXX. Royal Bank Of Canada cut shares of Rex Energy Corporation from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $4.00 to $3.00 in a report on Tuesday. Zacks Investment Research cut shares of Rex Energy Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Northland Securities set a $4.00 price objective on shares of Rex Energy Corporation and gave the stock a “hold” rating in a report on Monday, August 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $5.84.
Several hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV increased its holdings in shares of Rex Energy Corporation by 19.0% in the 1st quarter. KBC Group NV now owns 417,214 shares of the oil and gas exploration company’s stock worth $196,000 after acquiring an additional 66,559 shares during the period. Spark Investment Management LLC acquired a new stake in shares of Rex Energy Corporation in the 2nd quarter worth about $194,000. Primecap Management Co. CA increased its holdings in shares of Rex Energy Corporation by 4.6% in the 1st quarter. Primecap Management Co. CA now owns 3,425,000 shares of the oil and gas exploration company’s stock worth $1,608,000 after acquiring an additional 150,000 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Rex Energy Corporation by 30,715.1% in the 1st quarter. Bank of America Corp DE now owns 336,193 shares of the oil and gas exploration company’s stock worth $158,000 after acquiring an additional 335,102 shares during the period. 14.72% of the stock is currently owned by institutional investors and hedge funds.
Rex Energy Corporation (NASDAQ REXX) opened at 2.44 on Friday. The firm’s market capitalization is $23.59 million. The firm has a 50-day moving average of $2.35 and a 200-day moving average of $2.14. Rex Energy Corporation has a 1-year low of $2.10 and a 1-year high of $9.80.
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About Rex Energy Corporation
Rex Energy Corporation is an independent oil, natural gas liquid (NGL) and natural gas company. The Company has operations in the Appalachian Basin and Illinois Basin. In the Appalachian Basin, the Company is focused on its Marcellus Shale, Utica Shale and Upper Devonian (Burkett) Shale drilling and exploration activities.
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