Brokerages Expect Earthstone Energy Inc (ESTE) Will Announce Earnings of $0.16 Per Share

Wall Street analysts expect that Earthstone Energy Inc (NYSE:ESTE) will announce $0.16 earnings per share for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Earthstone Energy’s earnings. The highest EPS estimate is $0.21 and the lowest is $0.08. Earthstone Energy reported earnings per share of $0.02 during the same quarter last year, which would indicate a positive year over year growth rate of 700%. The company is scheduled to issue its next quarterly earnings report on Monday, August 5th.

On average, analysts expect that Earthstone Energy will report full-year earnings of $0.64 per share for the current fiscal year, with EPS estimates ranging from $0.00 to $1.13. For the next fiscal year, analysts forecast that the firm will report earnings of $0.92 per share, with EPS estimates ranging from $0.59 to $1.13. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Earthstone Energy.

Earthstone Energy (NYSE:ESTE) last released its quarterly earnings results on Monday, May 6th. The oil and gas producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.58. Earthstone Energy had a net margin of 11.99% and a return on equity of 3.75%. The business had revenue of $40.73 million for the quarter, compared to analysts’ expectations of $40.82 million.

Several research analysts recently weighed in on ESTE shares. Northland Securities restated a “buy” rating and set a $11.00 price target on shares of Earthstone Energy in a report on Tuesday, April 9th. Imperial Capital reaffirmed an “outperform” rating and issued a $9.00 price objective (up previously from $7.00) on shares of Earthstone Energy in a research report on Wednesday, February 27th. Roth Capital lowered their price objective on shares of Earthstone Energy from $15.50 to $12.00 in a research report on Thursday, January 24th. TheStreet raised shares of Earthstone Energy from a “d+” rating to a “c” rating in a research report on Friday, April 5th. Finally, Zacks Investment Research raised shares of Earthstone Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $10.58.

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc raised its position in Earthstone Energy by 0.7% in the third quarter. Vanguard Group Inc now owns 872,105 shares of the oil and gas producer’s stock worth $8,180,000 after acquiring an additional 5,970 shares during the period. D. E. Shaw & Co. Inc. bought a new stake in shares of Earthstone Energy in the fourth quarter valued at approximately $311,000. Meeder Asset Management Inc. raised its position in shares of Earthstone Energy by 141.4% in the fourth quarter. Meeder Asset Management Inc. now owns 8,439 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 4,943 shares during the period. AQR Capital Management LLC bought a new stake in shares of Earthstone Energy in the third quarter valued at approximately $137,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Earthstone Energy by 30.7% in the third quarter. Dimensional Fund Advisors LP now owns 797,393 shares of the oil and gas producer’s stock valued at $7,479,000 after purchasing an additional 187,360 shares during the period. 19.69% of the stock is currently owned by institutional investors and hedge funds.

Earthstone Energy stock opened at $7.45 on Friday. Earthstone Energy has a fifty-two week low of $4.21 and a fifty-two week high of $11.00. The stock has a market cap of $474.21 million, a P/E ratio of 5.17, a PEG ratio of 0.38 and a beta of 1.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.63 and a current ratio of 0.63.

Earthstone Energy Company Profile

Earthstone Energy, Inc, an independent energy company, engages in the development and operation of oil and gas properties in the United States. Its asset portfolio includes the Midland Basin of west Texas and the Eagle Ford trend of south Texas. As of December 31, 2018, the company operated 93 gross Eagle Ford wells; and 13 gross Austin Chalk wells, as well as had 98,847 thousand barrels of oil equivalent (MBOE) of total proved reserves comprised 23,646 MBOE of proved developed reserves and 75,201 MBOE of proved undeveloped reserves.

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Earnings History and Estimates for Earthstone Energy (NYSE:ESTE)

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