Zacks: Analysts Anticipate Laredo Petroleum, Inc. (LPI) to Post $0.11 EPS
Analysts expect Laredo Petroleum, Inc. (NYSE:LPI) to post earnings per share of $0.11 for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Laredo Petroleum’s earnings. The highest EPS estimate is $0.14 and the lowest is $0.05. Laredo Petroleum reported earnings per share of $0.13 during the same quarter last year, which suggests a negative year-over-year growth rate of 15.4%. The company is scheduled to issue its next quarterly earnings report after the market closes on Monday, August 7th.
On average, analysts expect that Laredo Petroleum will report full year earnings of $0.47 per share for the current fiscal year, with EPS estimates ranging from $0.32 to $0.58. For the next financial year, analysts forecast that the company will report earnings of $0.60 per share, with EPS estimates ranging from $0.27 to $1.59. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last issued its earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $189 million for the quarter, compared to the consensus estimate of $164.39 million. Laredo Petroleum had a negative net margin of 1.78% and a positive return on equity of 75.64%. The company’s revenue was up 77.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 EPS.
Several analysts have weighed in on LPI shares. Credit Suisse Group reissued an “underperform” rating and set a $15.00 target price on shares of Laredo Petroleum in a research report on Friday, June 2nd. Cowen and Company set a $12.00 target price on shares of Laredo Petroleum and gave the stock a “hold” rating in a research report on Tuesday, July 18th. BidaskClub downgraded shares of Laredo Petroleum from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Scotiabank reissued a “hold” rating and set a $15.00 target price on shares of Laredo Petroleum in a research report on Monday, May 15th. Finally, BMO Capital Markets reissued a “hold” rating and set a $10.00 target price on shares of Laredo Petroleum in a research report on Tuesday, June 27th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. Laredo Petroleum has an average rating of “Hold” and a consensus price target of $14.63.
A number of institutional investors have recently bought and sold shares of LPI. Tokio Marine Asset Management Co. Ltd. bought a new position in Laredo Petroleum during the second quarter worth $651,000. Rothschild Asset Management Inc. boosted its position in Laredo Petroleum by 5.9% in the second quarter. Rothschild Asset Management Inc. now owns 2,343,967 shares of the oil and gas producer’s stock worth $24,659,000 after buying an additional 130,901 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in Laredo Petroleum by 1.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 35,230 shares of the oil and gas producer’s stock worth $371,000 after buying an additional 546 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Laredo Petroleum by 32.5% in the second quarter. Russell Investments Group Ltd. now owns 45,411 shares of the oil and gas producer’s stock worth $478,000 after buying an additional 11,150 shares in the last quarter. Finally, Aperio Group LLC boosted its position in Laredo Petroleum by 23.7% in the second quarter. Aperio Group LLC now owns 23,504 shares of the oil and gas producer’s stock worth $247,000 after buying an additional 4,499 shares in the last quarter.
Laredo Petroleum (NYSE LPI) traded up 1.41% on Thursday, hitting $12.92. 3,392,517 shares of the stock were exchanged. The firm’s market cap is $3.09 billion. Laredo Petroleum has a 12 month low of $9.20 and a 12 month high of $16.47. The company has a 50-day moving average of $11.08 and a 200 day moving average of $12.84.
Laredo Petroleum Company Profile
Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Laredo Petroleum Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laredo Petroleum Inc. and related companies with MarketBeat.com's FREE daily email newsletter.