Zacks: Analysts Expect Laredo Petroleum, Inc. (LPI) Will Announce Quarterly Sales of $183.12 Million
Wall Street analysts expect Laredo Petroleum, Inc. (NYSE:LPI) to announce sales of $183.12 million for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have made estimates for Laredo Petroleum’s earnings. The lowest sales estimate is $156.20 million and the highest is $220.83 million. Laredo Petroleum posted sales of $159.73 million in the same quarter last year, which suggests a positive year-over-year growth rate of 14.6%. The business is scheduled to issue its next earnings results after the market closes on Wednesday, November 1st.
On average, analysts expect that Laredo Petroleum will report full-year sales of $183.12 million for the current year, with estimates ranging from $634.00 million to $864.31 million. For the next year, analysts anticipate that the company will post sales of $824.38 million per share, with estimates ranging from $579.20 million to $1.08 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings data on Monday, August 7th. The oil and gas producer reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). The company had revenue of $187.00 million during the quarter, compared to analysts’ expectations of $173.32 million. Laredo Petroleum had a return on equity of 49.15% and a net margin of 16.73%. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter last year, the company earned $0.13 earnings per share.
A number of research analysts have weighed in on the stock. BMO Capital Markets set a $14.00 price objective on shares of Laredo Petroleum and gave the company a “hold” rating in a report on Sunday, August 13th. BidaskClub raised shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Bank of America Corporation assumed coverage on shares of Laredo Petroleum in a report on Wednesday, July 19th. They issued an “underperform” rating and a $11.00 price objective for the company. Zacks Investment Research cut shares of Laredo Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Finally, Williams Capital set a $14.00 price objective on shares of Laredo Petroleum and gave the company a “hold” rating in a report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $14.64.
Large investors have recently bought and sold shares of the business. Evanson Asset Management LLC acquired a new position in Laredo Petroleum in the 2nd quarter valued at about $108,000. Koch Industries Inc. acquired a new position in Laredo Petroleum in the 2nd quarter valued at about $129,000. QCM Cayman Ltd. acquired a new position in Laredo Petroleum in the 2nd quarter valued at about $133,000. Teacher Retirement System of Texas boosted its holdings in Laredo Petroleum by 3.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock valued at $136,000 after purchasing an additional 468 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Laredo Petroleum in the 3rd quarter valued at about $167,000.
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Shares of Laredo Petroleum (NYSE:LPI) opened at 11.48 on Monday. Laredo Petroleum has a 52 week low of $9.57 and a 52 week high of $16.47. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 23.19 and a beta of 1.45. The firm has a 50-day moving average price of $12.32 and a 200-day moving average price of $12.10.
About Laredo Petroleum
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.
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