Zacks: Analysts Anticipate Resolute Energy Corporation (REN) to Announce $0.42 EPS
Equities research analysts expect that Resolute Energy Corporation (NYSE:REN) will report earnings per share of $0.42 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Resolute Energy Corporation’s earnings. The highest EPS estimate is $0.73 and the lowest is $0.08. Resolute Energy Corporation reported earnings of ($1.50) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 128%. The business is scheduled to report its next quarterly earnings report after the market closes on Monday, November 6th.
According to Zacks, analysts expect that Resolute Energy Corporation will report full year earnings of $0.31 per share for the current year. For the next financial year, analysts forecast that the company will report earnings of $2.92 per share, with EPS estimates ranging from $1.28 to $5.44. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Resolute Energy Corporation.
Resolute Energy Corporation (NYSE:REN) last posted its quarterly earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.25. The business had revenue of $71.06 million for the quarter, compared to analysts’ expectations of $77.09 million. During the same period in the prior year, the business posted ($2.44) earnings per share. The business’s quarterly revenue was up 100.8% compared to the same quarter last year.
REN has been the subject of several research analyst reports. ValuEngine downgraded Resolute Energy Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, September 6th. BMO Capital Markets decreased their price objective on Resolute Energy Corporation from $38.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, July 14th. KLR Group reissued a “buy” rating and issued a $64.00 price objective (up from $60.00) on shares of Resolute Energy Corporation in a report on Friday, September 15th. Goldman Sachs Group, Inc. (The) initiated coverage on Resolute Energy Corporation in a report on Monday, July 17th. They issued a “neutral” rating and a $34.00 price objective for the company. Finally, Imperial Capital reissued a “buy” rating and issued a $50.00 price objective on shares of Resolute Energy Corporation in a report on Monday, September 18th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $48.48.
In related news, Director James E. Duffy sold 2,500 shares of the stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $30.44, for a total transaction of $76,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.30% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of REN. Nationwide Fund Advisors acquired a new stake in shares of Resolute Energy Corporation during the first quarter worth $432,000. Wells Fargo & Company MN lifted its holdings in shares of Resolute Energy Corporation by 2.6% during the first quarter. Wells Fargo & Company MN now owns 3,079 shares of the oil and gas exploration company’s stock worth $124,000 after purchasing an additional 79 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in shares of Resolute Energy Corporation during the first quarter worth $218,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Resolute Energy Corporation during the first quarter worth $309,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Resolute Energy Corporation during the first quarter worth $6,584,000. 93.81% of the stock is owned by hedge funds and other institutional investors.
Resolute Energy Corporation (NYSE:REN) opened at 29.41 on Monday. The firm’s 50-day moving average is $28.75 and its 200-day moving average is $33.73. Resolute Energy Corporation has a 52-week low of $22.27 and a 52-week high of $49.14. The stock’s market capitalization is $648.70 million.
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About Resolute Energy Corporation
Resolute Energy Corporation is an independent oil and gas company. The Company is engaged in the exploitation, development, exploration for and acquisition of oil and gas properties. The Company’s assets are located primarily in the Delaware Basin in west Texas (the Permian Properties or Permian Basin Properties) and Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties or Aneth Field).
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