$168.85 Million in Sales Expected for Synergy Resources Corporation (SRCI) This Quarter

Wall Street brokerages expect Synergy Resources Corporation (NASDAQ:SRCI) to announce sales of $168.85 million for the current fiscal quarter, according to Zacks. Eleven analysts have provided estimates for Synergy Resources’ earnings, with the highest sales estimate coming in at $212.83 million and the lowest estimate coming in at $153.76 million. Synergy Resources reported sales of $147.23 million during the same quarter last year, which would suggest a positive year over year growth rate of 14.7%. The firm is expected to issue its next earnings report on Wednesday, May 1st.

On average, analysts expect that Synergy Resources will report full year sales of $693.60 million for the current financial year, with estimates ranging from $632.04 million to $1.02 billion. For the next financial year, analysts anticipate that the firm will report sales of $805.28 million, with estimates ranging from $683.00 million to $1.48 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Synergy Resources.

Synergy Resources (NASDAQ:SRCI) last announced its earnings results on Wednesday, February 20th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.02. The company had revenue of $190.34 million during the quarter, compared to analysts’ expectations of $186.18 million.

Several research analysts recently issued reports on SRCI shares. BidaskClub upgraded shares of Synergy Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. Ifs Securities reiterated an “outperform” rating on shares of Synergy Resources in a research report on Wednesday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $9.00.

NASDAQ:SRCI traded up $0.07 during midday trading on Wednesday, hitting $6.48. The company had a trading volume of 3,077,120 shares, compared to its average volume of 3,853,443. Synergy Resources has a 52-week low of $4.01 and a 52-week high of $13.32.

About Synergy Resources

SRC Energy Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids primarily in the Denver-Julesburg Basin of Colorado. As of December 31, 2017, it had net proved oil and natural gas reserves of 69.4 million barrels of oil and condensate, 559.9 billion cubic feet of natural gas, and 64.0 million barrels of natural gas liquids; and operated 551 net producing wells, as well as had 98,600 gross and 88,300 net acres under lease in the Wattenberg Field.

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