Analysts Anticipate Earthstone Energy, Inc. (ESTE) to Post $0.05 EPS
Wall Street analysts forecast that Earthstone Energy, Inc. (NYSE:ESTE) will post earnings of $0.05 per share for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Earthstone Energy’s earnings. The lowest EPS estimate is ($0.01) and the highest is $0.11. Earthstone Energy posted earnings of ($0.21) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 123.8%. The business is expected to issue its next quarterly earnings report on Wednesday, March 21st.
According to Zacks, analysts expect that Earthstone Energy will report full-year earnings of ($0.52) per share for the current year, with EPS estimates ranging from ($0.55) to ($0.48). For the next financial year, analysts expect that the business will report earnings of $0.31 per share, with EPS estimates ranging from ($0.01) to $0.63. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Earthstone Energy.
A number of research firms recently commented on ESTE. Roth Capital set a $16.00 price objective on Earthstone Energy and gave the stock a “buy” rating in a report on Monday, August 21st. Zacks Investment Research upgraded Earthstone Energy from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Wells Fargo & Company began coverage on Earthstone Energy in a report on Thursday. They issued an “outperform” rating and a $12.00 price objective on the stock. Robert W. Baird restated a “buy” rating on shares of Earthstone Energy in a report on Sunday, September 17th. Finally, Northland Securities set a $18.00 price objective on Earthstone Energy and gave the stock a “buy” rating in a report on Monday, August 21st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Earthstone Energy has an average rating of “Buy” and an average price target of $14.91.
A number of hedge funds have recently made changes to their positions in ESTE. Citadel Advisors LLC acquired a new position in Earthstone Energy during the second quarter valued at approximately $105,000. New York State Common Retirement Fund grew its holdings in Earthstone Energy by 849.2% during the second quarter. New York State Common Retirement Fund now owns 11,400 shares of the oil and gas producer’s stock valued at $114,000 after purchasing an additional 10,199 shares during the last quarter. Virtu KCG Holdings LLC acquired a new position in Earthstone Energy during the second quarter valued at approximately $120,000. Brandywine Global Investment Management LLC acquired a new position in Earthstone Energy during the second quarter valued at approximately $122,000. Finally, Rhumbline Advisers acquired a new position in Earthstone Energy during the third quarter valued at approximately $135,000. Institutional investors own 13.43% of the company’s stock.
Earthstone Energy (NYSE:ESTE) traded up $0.10 during trading hours on Thursday, reaching $9.19. The company had a trading volume of 129,100 shares, compared to its average volume of 129,738. Earthstone Energy has a 12-month low of $7.85 and a 12-month high of $15.71. The firm has a market capitalization of $584.11, a P/E ratio of 11.22 and a beta of 1.39. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.11.
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Earthstone Energy Company Profile
Earthstone Energy, Inc is an independent oil and natural gas development and production company. The Company is also engaged in corporate mergers and the acquisition of oil and natural gas properties that have production and future development opportunities. Its operations are all in the upstream segment of the oil and natural gas industry and all its properties are onshore in the United States.
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