Zacks: Brokerages Anticipate Gastar Exploration Inc (GST) Will Announce Quarterly Sales of $21.41 Million
Wall Street analysts expect that Gastar Exploration Inc (NYSE:GST) will post sales of $21.41 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Gastar Exploration’s earnings, with the highest sales estimate coming in at $23.03 million and the lowest estimate coming in at $19.20 million. Gastar Exploration posted sales of $18.29 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 17.1%. The company is expected to issue its next earnings report on Thursday, March 8th.
According to Zacks, analysts expect that Gastar Exploration will report full-year sales of $21.41 million for the current fiscal year, with estimates ranging from $71.80 million to $83.30 million. For the next year, analysts anticipate that the business will post sales of $87.27 million per share, with estimates ranging from $72.90 million to $94.36 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Gastar Exploration.
Gastar Exploration (NYSE:GST) last released its quarterly earnings results on Wednesday, November 8th. The company reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.02). The firm had revenue of $15.30 million during the quarter, compared to the consensus estimate of $20.06 million. During the same period last year, the business posted ($0.08) earnings per share. The firm’s revenue was up 17.7% on a year-over-year basis.
GST has been the subject of a number of analyst reports. Zacks Investment Research raised Gastar Exploration from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Williams Capital set a $1.00 price target on Gastar Exploration and gave the stock a “hold” rating in a report on Friday, August 4th. Finally, Imperial Capital initiated coverage on Gastar Exploration in a report on Tuesday, September 19th. They issued an “in-line” rating and a $1.00 price target for the company. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $1.40.
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Gastar Exploration (NYSE:GST) traded up $0.01 during midday trading on Wednesday, hitting $0.88. The stock had a trading volume of 377,354 shares, compared to its average volume of 866,608. Gastar Exploration has a 12 month low of $0.38 and a 12 month high of $2.19.
A number of institutional investors have recently added to or reduced their stakes in GST. Schwab Charles Investment Management Inc. increased its stake in Gastar Exploration by 124.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 540,300 shares of the company’s stock valued at $501,000 after purchasing an additional 300,000 shares during the last quarter. Rhumbline Advisers acquired a new position in Gastar Exploration in the second quarter valued at $163,000. Bank of New York Mellon Corp increased its stake in Gastar Exploration by 439.9% in the second quarter. Bank of New York Mellon Corp now owns 599,986 shares of the company’s stock valued at $555,000 after purchasing an additional 488,849 shares during the last quarter. Deprince Race & Zollo Inc. increased its stake in Gastar Exploration by 9.2% in the second quarter. Deprince Race & Zollo Inc. now owns 1,011,084 shares of the company’s stock valued at $936,000 after purchasing an additional 85,100 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Gastar Exploration by 2.4% in the second quarter. Wells Fargo & Company MN now owns 254,924 shares of the company’s stock valued at $236,000 after purchasing an additional 6,000 shares during the last quarter.
About Gastar Exploration
Gastar Exploration Inc, an independent energy company, engages in the exploration, development, and production of oil, condensate, natural gas, and natural gas liquids in the United States. Its principal activities include the identification, acquisition, exploration, and development of oil and natural gas properties on unconventional reserves, such as shale resource plays.
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