Crosstex Energy (XTEX) Announces Quarterly Earnings Results, Misses Estimates By $0.32 EPS
Crosstex Energy (NASDAQ:XTEX) posted its quarterly earnings results on Thursday. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by $0.32, Analyst Ratings.Net reports. The company had revenue of $574.60 million for the quarter, compared to the consensus estimate of $492.58 million. During the same quarter in the previous year, the company posted ($0.51) earnings per share. The company’s revenue for the quarter was up 9.2% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Wunderlich upgraded shares of Crosstex Energy to a “buy” rating in a research note on Friday, February 21st. On a related note, analysts at Goldman Sachs initiated coverage on shares of Crosstex Energy in a research note on Wednesday, December 11th. They set a “neutral” rating on the stock. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $23.09.
Shares of Crosstex Energy (NASDAQ:XTEX) traded up 1.31% on Thursday, hitting $31.81. 364,802 shares of the company’s stock traded hands. Crosstex Energy has a 1-year low of $16.65 and a 1-year high of $32.62. The stock has a 50-day moving average of $28.52 and a 200-day moving average of $24.32. The company’s market cap is $2.867 billion.
Crosstex Energy, L.P. is an independent midstream energy company engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NASDAQ:XTEX).
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