SRC Energy Inc (SRCI) Expected to Announce Earnings of $0.15 Per Share
Equities analysts expect SRC Energy Inc (NASDAQ:SRCI) to announce $0.15 earnings per share (EPS) for the current quarter, according to Zacks. Nine analysts have made estimates for SRC Energy’s earnings. The lowest EPS estimate is $0.10 and the highest is $0.22. SRC Energy posted earnings per share of $0.03 in the same quarter last year, which suggests a positive year-over-year growth rate of 400%. The firm is expected to issue its next earnings results on Thursday, November 2nd.
On average, analysts expect that SRC Energy will report full year earnings of $0.58 per share for the current financial year, with EPS estimates ranging from $0.47 to $0.69. For the next year, analysts expect that the firm will report earnings of $0.87 per share, with EPS estimates ranging from $0.29 to $1.25. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that follow SRC Energy.
SRC Energy (NASDAQ:SRCI) last posted its quarterly earnings results on Thursday, August 3rd. The oil and natural gas company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. SRC Energy had a net margin of 37.23% and a return on equity of 12.75%. The company had revenue of $75.04 million during the quarter, compared to analyst estimates of $68.08 million.
Several research firms have recently weighed in on SRCI. Scotiabank set a $10.00 price objective on SRC Energy and gave the company a “buy” rating in a report on Saturday, July 1st. Seaport Global Securities downgraded SRC Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $10.00 to $5.00 in a report on Wednesday, June 21st. KeyCorp reissued a “buy” rating and issued a $10.00 price objective on shares of SRC Energy in a report on Tuesday, September 19th. BMO Capital Markets reissued a “hold” rating and issued a $9.00 price objective on shares of SRC Energy in a report on Wednesday, June 21st. Finally, Citigroup Inc. increased their price objective on SRC Energy from $8.00 to $8.50 and gave the company a “neutral” rating in a report on Tuesday, August 15th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. SRC Energy has a consensus rating of “Buy” and a consensus target price of $11.32.
Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG acquired a new stake in shares of SRC Energy during the first quarter worth $101,000. Piedmont Investment Advisors LLC acquired a new stake in shares of SRC Energy during the first quarter worth $101,000. World Asset Management Inc acquired a new stake in shares of SRC Energy during the first quarter worth $106,000. OppenheimerFunds Inc. acquired a new stake in shares of SRC Energy during the first quarter worth $118,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of SRC Energy during the first quarter worth $127,000.
SRC Energy (NASDAQ SRCI) opened at 9.51 on Thursday. SRC Energy has a 52-week low of $6.19 and a 52-week high of $10.38. The stock has a market capitalization of $1.91 billion and a price-to-earnings ratio of 56.27. The firm’s 50-day moving average is $7.96 and its 200-day moving average is $7.58.
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About SRC Energy
SRC Energy Inc, formerly Synergy Resources Corporation, is an independent oil and natural gas company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in and around the Denver-Julesburg Basin (D-J Basin) of Colorado. The D-J Basin generally extends from the Denver metropolitan area throughout northeast Colorado into Wyoming, Nebraska, and Kansas.
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