Brokerages Anticipate Laredo Petroleum Inc (LPI) Will Announce Earnings of $0.18 Per Share
Equities analysts predict that Laredo Petroleum Inc (NYSE:LPI) will post earnings of $0.18 per share for the current quarter, according to Zacks. Seven analysts have made estimates for Laredo Petroleum’s earnings. The highest EPS estimate is $0.26 and the lowest is $0.15. Laredo Petroleum reported earnings of $0.16 per share in the same quarter last year, which indicates a positive year over year growth rate of 12.5%. The business is expected to announce its next quarterly earnings report on Wednesday, February 21st.
On average, analysts expect that Laredo Petroleum will report full year earnings of $0.52 per share for the current financial year, with EPS estimates ranging from $0.47 to $0.59. For the next fiscal year, analysts anticipate that the business will post earnings of $0.88 per share, with EPS estimates ranging from $0.63 to $1.39. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last released its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.01). The firm had revenue of $205.82 million for the quarter, compared to analyst estimates of $178.48 million. Laredo Petroleum had a return on equity of 43.77% and a net margin of 15.92%. The firm’s revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 EPS.
A number of equities analysts have commented on the stock. Zacks Investment Research lowered shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. Cowen reiterated a “hold” rating and set a $12.00 target price on shares of Laredo Petroleum in a research report on Sunday, September 17th. Seaport Global Securities reiterated a “neutral” rating and set a $9.50 target price (down from $10.00) on shares of Laredo Petroleum in a research report on Monday, October 9th. Scotiabank set a $14.00 target price on shares of Laredo Petroleum and gave the stock a “hold” rating in a research report on Wednesday, November 22nd. Finally, Barclays reiterated a “buy” rating on shares of Laredo Petroleum in a research report on Thursday, November 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. Laredo Petroleum presently has an average rating of “Hold” and an average price target of $13.84.
Laredo Petroleum (LPI) traded up $0.28 during midday trading on Tuesday, reaching $11.05. 1,650,800 shares of the company were exchanged, compared to its average volume of 2,507,080. The company has a market capitalization of $2,650.00, a PE ratio of 22.10, a P/E/G ratio of 2.46 and a beta of 1.32. Laredo Petroleum has a twelve month low of $9.46 and a twelve month high of $15.15. The company has a debt-to-equity ratio of 4.16, a quick ratio of 0.64 and a current ratio of 0.64.
A number of hedge funds have recently added to or reduced their stakes in LPI. WS Management Lllp boosted its position in Laredo Petroleum by 50.8% during the 3rd quarter. WS Management Lllp now owns 5,934,700 shares of the oil and gas producer’s stock worth $76,736,000 after buying an additional 2,000,000 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Laredo Petroleum by 69.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,082,481 shares of the oil and gas producer’s stock worth $32,428,000 after purchasing an additional 1,263,202 shares during the period. Vanguard Group Inc. lifted its position in shares of Laredo Petroleum by 7.9% in the 2nd quarter. Vanguard Group Inc. now owns 16,083,332 shares of the oil and gas producer’s stock worth $169,197,000 after purchasing an additional 1,176,608 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in shares of Laredo Petroleum by 36.8% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 3,886,100 shares of the oil and gas producer’s stock worth $50,247,000 after purchasing an additional 1,044,525 shares during the period. Finally, State Street Corp lifted its position in shares of Laredo Petroleum by 15.9% in the 2nd quarter. State Street Corp now owns 5,810,244 shares of the oil and gas producer’s stock worth $61,121,000 after purchasing an additional 799,073 shares during the period.
About Laredo Petroleum
Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.
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