Rice Energy Inc. (RICE) Expected to Announce Quarterly Sales of $355.19 Million
Analysts forecast that Rice Energy Inc. (NYSE:RICE) will report $355.19 million in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Rice Energy’s earnings. The highest sales estimate is $393.20 million and the lowest is $315.90 million. Rice Energy posted sales of $198.92 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 78.6%. The firm is scheduled to issue its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Rice Energy will report full-year sales of $355.19 million for the current fiscal year, with estimates ranging from $1.45 billion to $1.60 billion. For the next financial year, analysts expect that the company will post sales of $1.79 billion per share, with estimates ranging from $1.67 billion to $1.85 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Rice Energy.
Rice Energy (NYSE:RICE) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). Rice Energy had a positive return on equity of 3.27% and a negative net margin of 3.00%. The business had revenue of $398.30 million during the quarter, compared to analysts’ expectations of $359.27 million. During the same quarter in the prior year, the firm earned ($1.07) EPS. The firm’s revenue for the quarter was up 155.3% compared to the same quarter last year.
RICE has been the subject of a number of recent analyst reports. Jefferies Group LLC cut Rice Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BMO Capital Markets set a $30.00 price objective on Rice Energy and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Stephens cut Rice Energy from an “overweight” rating to an “equal weight” rating and set a $30.00 price objective for the company. in a research report on Thursday, August 3rd. Mitsubishi UFJ Financial Group cut Rice Energy from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $31.00 to $27.00 in a research report on Tuesday, June 20th. Finally, Williams Capital cut Rice Energy from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a research report on Monday, July 3rd. Twenty-two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $28.16.
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Rice Energy (NYSE:RICE) opened at 28.67 on Friday. The stock’s market cap is $6.13 billion. Rice Energy has a 1-year low of $18.30 and a 1-year high of $29.55. The stock has a 50 day moving average price of $27.33 and a 200 day moving average price of $23.82.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Rice Energy by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 12,999,586 shares of the oil and gas producer’s stock valued at $346,180,000 after buying an additional 297,124 shares during the last quarter. PointState Capital LP raised its stake in shares of Rice Energy by 16.4% during the 2nd quarter. PointState Capital LP now owns 8,521,214 shares of the oil and gas producer’s stock valued at $226,920,000 after buying an additional 1,203,454 shares during the last quarter. BlackRock Inc. raised its stake in shares of Rice Energy by 6.8% during the 2nd quarter. BlackRock Inc. now owns 5,426,111 shares of the oil and gas producer’s stock valued at $144,498,000 after buying an additional 347,833 shares during the last quarter. CNH Partners LLC purchased a new position in shares of Rice Energy during the 2nd quarter valued at about $140,605,000. Finally, State Street Corp raised its stake in shares of Rice Energy by 8.7% during the 2nd quarter. State Street Corp now owns 4,377,768 shares of the oil and gas producer’s stock valued at $116,583,000 after buying an additional 349,798 shares during the last quarter. Institutional investors and hedge funds own 96.08% of the company’s stock.
Rice Energy Company Profile
Rice Energy Inc (Rice Energy) is an independent natural gas and oil company. The Company is engaged in the acquisition, exploration and development of natural gas, oil and natural gas liquids (NGL) properties in the Appalachian Basin. The Company conducts its operations through two segments: Exploration and Production, and Midstream.
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