Canaccord Genuity Initiates Coverage on Rice Energy (RICE)
Research analysts at Canaccord Genuity began coverage on shares of Rice Energy (NASDAQ:RICE) in a report released on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
Shares of Rice Energy (NASDAQ:RICE) traded down 0.50% during mid-day trading on Wednesday, hitting $25.84. 875,758 shares of the company’s stock traded hands. Rice Energy has a 52 week low of $20.78 and a 52 week high of $34.34. The stock has a 50-day moving average of $30.45 and a 200-day moving average of $27.77. The company has a market cap of $3.324 billion and a P/E ratio of 33.47.
Rice Energy (NASDAQ:RICE) last announced its earnings results on Tuesday, May 13th. The company reported $0.99 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.13 by $0.86. The company had revenue of $90.47 million for the quarter, compared to the consensus estimate of $76.63 million. The company’s quarterly revenue was up 585.6% on a year-over-year basis. On average, analysts predict that Rice Energy will post $0.54 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at FBR Capital Markets initiated coverage on shares of Rice Energy in a research note on Wednesday. They set a “market perform” rating on the stock. Separately, analysts at Prime Executions initiated coverage on shares of Rice Energy in a research note on Tuesday. They set a “buy” rating on the stock. Finally, analysts at Iberia Capital upgraded shares of Rice Energy from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, July 9th. They now have a $37.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $34.50.
Rice Energy Inc (NASDAQ:RICE) is an independent natural gas and oil company.
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