Memorial Production Partners Given Consensus Recommendation of “Buy” by Analysts (NASDAQ:MEMP)
Memorial Production Partners (NASDAQ:MEMP) has earned a consensus recommendation of “Buy” from the twelve analysts that are presently covering the company, AnalystRatingsNetwork reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $24.56.
Separately, analysts at Zacks downgraded shares of Memorial Production Partners from a “neutral” rating to an “underperform” rating in a research note on Monday. They now have a $22.00 price target on the stock.
Memorial Production Partners (NASDAQ:MEMP) traded down 0.25% on Tuesday, hitting $23.54. 132,148 shares of the company’s stock traded hands. Memorial Production Partners has a 52 week low of $19.30 and a 52 week high of $24.75. The stock has a 50-day moving average of $23.42 and a 200-day moving average of $22.7. The company’s market cap is $1.447 billion.
Memorial Production Partners (NASDAQ:MEMP) last released its earnings data on Wednesday, August 6th. The company reported ($1.86) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.43 by $2.29. The company had revenue of $123.30 million for the quarter, compared to the consensus estimate of $115.10 million. Memorial Production Partners’s revenue was up 36.8% compared to the same quarter last year. Analysts expect that Memorial Production Partners will post $1.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, August 12th. Shareholders of record on Tuesday, August 5th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 9.32%. The ex-dividend date is Friday, August 1st.
Memorial Production Partners LP, is a limited partnership formed by Memorial Resource to own, acquire and exploit oil natural gas properties in North America.
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