$55.17 Million in Sales Expected for Bellatrix Exploration Ltd (BXE) This Quarter
Analysts expect that Bellatrix Exploration Ltd (NYSE:BXE) (TSE:BXE) will post $55.17 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Bellatrix Exploration’s earnings, with the lowest sales estimate coming in at $51.40 million and the highest estimate coming in at $58.93 million. Bellatrix Exploration reported sales of $43.34 million during the same quarter last year, which suggests a positive year-over-year growth rate of 27.3%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Bellatrix Exploration will report full-year sales of $55.17 million for the current year, with estimates ranging from $218.80 million to $241.15 million. For the next year, analysts expect that the company will report sales of $232.12 million per share, with estimates ranging from $220.90 million to $247.95 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Bellatrix Exploration.
Bellatrix Exploration (NYSE:BXE) (TSE:BXE) last announced its earnings results on Thursday, August 10th. The oil and gas exploration company reported ($0.22) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.10). Bellatrix Exploration had a negative net margin of 17.99% and a negative return on equity of 1.69%. The business had revenue of $50.32 million for the quarter, compared to analysts’ expectations of $49.59 million.
Several equities analysts have recently weighed in on the stock. ValuEngine raised shares of Bellatrix Exploration from a “sell” rating to a “hold” rating in a report on Friday, July 7th. Zacks Investment Research raised shares of Bellatrix Exploration from a “strong sell” rating to a “hold” rating in a report on Monday, August 14th. Finally, Scotiabank reaffirmed a “hold” rating and set a $5.00 target price on shares of Bellatrix Exploration in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $7.08.
An institutional investor recently raised its position in Bellatrix Exploration stock. Proxima Capital Management LLC grew its position in shares of Bellatrix Exploration Ltd (NYSE:BXE) (TSE:BXE) by 12.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,405,000 shares of the oil and gas exploration company’s stock after purchasing an additional 605,000 shares during the quarter. Bellatrix Exploration makes up about 1.7% of Proxima Capital Management LLC’s portfolio, making the stock its 22nd biggest holding. Proxima Capital Management LLC owned 10.93% of Bellatrix Exploration worth $3,085,000 at the end of the most recent reporting period.
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Shares of Bellatrix Exploration (NYSE BXE) traded down 2.03% during mid-day trading on Thursday, reaching $2.42. 13,498 shares of the company’s stock were exchanged. Bellatrix Exploration has a one year low of $2.23 and a one year high of $5.35. The company’s 50-day moving average price is $2.68 and its 200-day moving average price is $2.97. The company’s market capitalization is $119.49 million.
Bellatrix Exploration Company Profile
Bellatrix Exploration Ltd. is an oil and gas exploration company engaged in the exploration for, and the acquisition, development and production of oil and natural gas reserves in the provinces of Alberta, British Columbia and Saskatchewan. The Company’s properties include Ferrier, Willesden Green, Greater Pembina, Strachan and Harmattan.
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