Analysts Anticipate Earthstone Energy, Inc. (ESTE) Will Post Quarterly Sales of $33.60 Million
Wall Street brokerages expect Earthstone Energy, Inc. (NYSE:ESTE) to report $33.60 million in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Earthstone Energy’s earnings, with the highest sales estimate coming in at $37.20 million and the lowest estimate coming in at $31.00 million. Earthstone Energy posted sales of $15.15 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 121.8%. The company is scheduled to issue its next earnings results on Wednesday, March 21st.
On average, analysts expect that Earthstone Energy will report full-year sales of $33.60 million for the current fiscal year, with estimates ranging from $102.80 million to $109.60 million. For the next financial year, analysts anticipate that the firm will report sales of $160.38 million per share, with estimates ranging from $117.70 million to $189.95 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Earthstone Energy.
A number of brokerages recently issued reports on ESTE. Roth Capital set a $16.00 price target on Earthstone Energy and gave the company a “buy” rating in a report on Monday, August 21st. Zacks Investment Research raised Earthstone Energy from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Robert W. Baird reissued a “buy” rating on shares of Earthstone Energy in a report on Sunday, September 17th. Northland Securities set a $18.00 price objective on Earthstone Energy and gave the company a “buy” rating in a report on Monday, August 21st. Finally, Wells Fargo & Company started coverage on Earthstone Energy in a report on Thursday. They issued an “outperform” rating and a $12.00 price objective for the company. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $14.91.
Earthstone Energy (NYSE ESTE) opened at $9.38 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $593.00, a PE ratio of 11.52 and a beta of 1.37. Earthstone Energy has a 52-week low of $7.85 and a 52-week high of $15.50.
Several institutional investors have recently added to or reduced their stakes in ESTE. Wells Fargo & Company MN raised its position in Earthstone Energy by 126,489.0% in the second quarter. Wells Fargo & Company MN now owns 854,476 shares of the oil and gas producer’s stock worth $8,553,000 after acquiring an additional 853,801 shares in the last quarter. Bank of New York Mellon Corp raised its position in Earthstone Energy by 153.2% in the second quarter. Bank of New York Mellon Corp now owns 42,661 shares of the oil and gas producer’s stock worth $427,000 after acquiring an additional 25,813 shares in the last quarter. Argent Capital Management LLC raised its position in Earthstone Energy by 17.4% in the second quarter. Argent Capital Management LLC now owns 138,765 shares of the oil and gas producer’s stock worth $1,389,000 after acquiring an additional 20,550 shares in the last quarter. Northpointe Capital LLC raised its position in Earthstone Energy by 25.3% in the second quarter. Northpointe Capital LLC now owns 696,861 shares of the oil and gas producer’s stock worth $6,976,000 after acquiring an additional 140,858 shares in the last quarter. Finally, Sanders Morris Harris LLC raised its position in Earthstone Energy by 75.3% in the third quarter. Sanders Morris Harris LLC now owns 151,563 shares of the oil and gas producer’s stock worth $1,666,000 after acquiring an additional 65,093 shares in the last quarter. Institutional investors and hedge funds own 13.43% of the company’s stock.
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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