Alta Mesa Resources (AMR) Announces Quarterly Earnings Results, Misses Expectations By $0.14 EPS
Alta Mesa Resources (NASDAQ:AMR) announced its quarterly earnings results on Tuesday. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.14), MarketWatch Earnings reports. The company had revenue of $93.14 million for the quarter, compared to analysts’ expectations of $131.93 million. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year.
Shares of NASDAQ:AMR opened at $4.77 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.17. Alta Mesa Resources has a fifty-two week low of $4.36 and a fifty-two week high of $10.79.
Alta Mesa Resources announced that its Board of Directors has authorized a stock buyback plan on Tuesday, August 14th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Alta Mesa Resources Company Profile
Alta Mesa Resources, Inc focuses on the acquisition and development of unconventional oil and natural gas reserves in the Anadarko Basin. It also offers midstream energy services, including crude oil and gas gathering, processing, and marketing to producers of natural gas, natural gas liquids, crude oil, and condensate in the STACK Play region of Oklahoma.
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