Rice Energy Inc. (RICE) Expected to Post Quarterly Sales of $356.21 Million
Wall Street brokerages forecast that Rice Energy Inc. (NYSE:RICE) will report $356.21 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for Rice Energy’s earnings, with the lowest sales estimate coming in at $322.00 million and the highest estimate coming in at $393.20 million. Rice Energy reported sales of $198.92 million in the same quarter last year, which indicates a positive year-over-year growth rate of 79.1%. The business is expected to issue its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Rice Energy will report full year sales of $356.21 million for the current fiscal year, with estimates ranging from $1.45 billion to $1.60 billion. For the next year, analysts forecast that the firm will post sales of $1.80 billion per share, with estimates ranging from $1.72 billion to $1.85 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Rice Energy.
Rice Energy (NYSE:RICE) last released its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). Rice Energy had a negative net margin of 3.00% and a positive return on equity of 3.27%. The business had revenue of $398.30 million for the quarter, compared to analyst estimates of $359.27 million. During the same period in the prior year, the company earned ($1.07) earnings per share. The firm’s revenue for the quarter was up 155.3% on a year-over-year basis.
Several equities research analysts have recently commented on the stock. Royal Bank Of Canada reiterated a “hold” rating and set a $27.00 price target on shares of Rice Energy in a research report on Friday, September 29th. BidaskClub upgraded shares of Rice Energy from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Stifel Nicolaus reiterated a “hold” rating and set a $27.00 price target on shares of Rice Energy in a research report on Thursday, September 14th. Stephens cut shares of Rice Energy from an “overweight” rating to an “equal weight” rating and set a $30.00 price target for the company. in a research report on Thursday, August 3rd. Finally, Scotiabank reissued a “hold” rating and set a $27.00 price objective on shares of Rice Energy in a research note on Thursday, August 3rd. Twenty equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Rice Energy presently has a consensus rating of “Hold” and a consensus target price of $27.93.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Banco BTG Pactual S.A. bought a new stake in shares of Rice Energy in the second quarter worth $7,563,000. GeoSphere Capital Management lifted its position in shares of Rice Energy by 100.0% in the second quarter. GeoSphere Capital Management now owns 90,000 shares of the oil and gas producer’s stock worth $240,000 after purchasing an additional 45,000 shares in the last quarter. NFC Investments LLC lifted its position in shares of Rice Energy by 1.0% in the second quarter. NFC Investments LLC now owns 335,951 shares of the oil and gas producer’s stock worth $8,946,000 after purchasing an additional 3,320 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Rice Energy by 22.9% in the second quarter. The Manufacturers Life Insurance Company now owns 7,304 shares of the oil and gas producer’s stock worth $195,000 after purchasing an additional 1,362 shares in the last quarter. Finally, CNH Partners LLC bought a new stake in shares of Rice Energy in the second quarter worth $140,605,000. 96.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Rice Energy (NYSE RICE) opened at 28.59 on Friday. The company’s 50-day moving average is $27.79 and its 200 day moving average is $24.66. The firm’s market capitalization is $6.11 billion. Rice Energy has a 1-year low of $18.30 and a 1-year high of $29.55.
About Rice Energy
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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