Resolute Energy Corp (REN) Expected to Announce Quarterly Sales of $84.63 Million
Analysts predict that Resolute Energy Corp (NYSE:REN) will announce $84.63 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Resolute Energy Corp’s earnings. The highest sales estimate is $85.9 million and the lowest is $84 million. Resolute Energy Corp posted sales of $35.39 million in the same quarter last year, which would indicate a positive year over year growth rate of 139.1%. The firm is scheduled to announce its next earnings report on Monday, August 14th.
According to Zacks, analysts expect that Resolute Energy Corp will report full year sales of $84.63 million for the current fiscal year, with estimates ranging from $335 million to $416.2 million. For the next financial year, analysts expect that the firm will report sales of $563.75 million per share, with estimates ranging from $504.6 million to $618.7 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Resolute Energy Corp.
Several equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Resolute Energy Corp from a “buy” rating to a “hold” rating in a research report on Friday, March 10th. BMO Capital Markets restated a “buy” rating and set a $50.00 price target on shares of Resolute Energy Corp in a report on Tuesday, March 14th. KLR Group restated a “buy” rating and set a $54.00 price target on shares of Resolute Energy Corp in a report on Wednesday, March 15th. Finally, Barclays PLC raised their price target on shares of Resolute Energy Corp to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 15th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Resolute Energy Corp currently has an average rating of “Buy” and a consensus price target of $42.58.
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Several hedge funds have recently added to or reduced their stakes in REN. FMR LLC bought a new stake in Resolute Energy Corp during the fourth quarter valued at $33,505,000. Russell Investments Group Ltd. bought a new stake in Resolute Energy Corp during the fourth quarter valued at $5,147,000. Tudor Investment Corp Et Al bought a new stake in Resolute Energy Corp during the fourth quarter valued at $206,000. State Street Corp bought a new stake in Resolute Energy Corp during the fourth quarter valued at $41,902,000. Finally, Mesirow Financial Investment Management Equity Management bought a new stake in Resolute Energy Corp during the first quarter valued at $405,000. Institutional investors own 46.06% of the company’s stock.
Shares of Resolute Energy Corp (NYSE:REN) opened at 44.00 on Friday. The company’s market cap is $969.67 million. The firm has a 50-day moving average of $40.78 and a 200 day moving average of $39.41. Resolute Energy Corp has a 52 week low of $2.70 and a 52 week high of $49.14.
About Resolute Energy Corp
Resolute Energy Corporation is an independent oil and gas company. The Company is engaged in the exploitation, development, exploration for and acquisition of oil and gas properties. The Company’s assets are located primarily in the Delaware Basin in west Texas (the Permian Properties or Permian Basin Properties) and Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties or Aneth Field).
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