$0.36 EPS Expected for Resolute Energy Corporation (REN) This Quarter
Wall Street brokerages expect that Resolute Energy Corporation (NYSE:REN) will announce earnings per share (EPS) of $0.36 for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Resolute Energy Corporation’s earnings. The lowest EPS estimate is $0.08 and the highest is $0.58. Resolute Energy Corporation reported earnings of ($1.50) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 124%. The firm is scheduled to announce its next earnings results after the market closes on Monday, November 6th.
According to Zacks, analysts expect that Resolute Energy Corporation will report full-year earnings of $0.31 per share for the current fiscal year. For the next year, analysts expect that the company will report earnings of $2.90 per share, with EPS estimates ranging from $1.28 to $5.32. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Resolute Energy Corporation.
Resolute Energy Corporation (NYSE:REN) last released its earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.25. The company had revenue of $71.06 million for the quarter, compared to analyst estimates of $77.09 million. The firm’s quarterly revenue was up 100.8% on a year-over-year basis. During the same period in the previous year, the business posted ($2.44) EPS.
A number of research analysts recently weighed in on REN shares. KLR Group reaffirmed a “buy” rating and issued a $64.00 price target (up from $60.00) on shares of Resolute Energy Corporation in a research note on Friday, September 15th. Goldman Sachs Group, Inc. (The) raised shares of Resolute Energy Corporation from a “neutral” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Thursday, October 19th. They noted that the move was a valuation call. ValuEngine lowered shares of Resolute Energy Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. Northland Securities set a $60.00 price target on shares of Resolute Energy Corporation and gave the company a “buy” rating in a research note on Monday, July 17th. Finally, Zacks Investment Research upgraded shares of Resolute Energy Corporation from a “strong sell” rating to a “hold” rating in a report on Saturday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $48.23.
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In other Resolute Energy Corporation news, Director James E. Duffy sold 2,500 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $30.44, for a total value of $76,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN increased its holdings in shares of Resolute Energy Corporation by 2.6% during the 1st quarter. Wells Fargo & Company MN now owns 3,079 shares of the oil and gas exploration company’s stock worth $124,000 after buying an additional 79 shares during the last quarter. Northpointe Capital LLC acquired a new stake in shares of Resolute Energy Corporation during the 2nd quarter worth approximately $152,000. Legal & General Group Plc acquired a new stake in shares of Resolute Energy Corporation during the 2nd quarter worth approximately $168,000. Bank of America Corp DE increased its holdings in shares of Resolute Energy Corporation by 799.4% during the 1st quarter. Bank of America Corp DE now owns 4,803 shares of the oil and gas exploration company’s stock worth $194,000 after buying an additional 4,269 shares during the last quarter. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of Resolute Energy Corporation during the 1st quarter worth approximately $218,000. Institutional investors and hedge funds own 94.16% of the company’s stock.
Resolute Energy Corporation (NYSE REN) traded down $0.76 during trading on Friday, reaching $30.36. 542,542 shares of the company’s stock traded hands, compared to its average volume of 596,343. The company has a debt-to-equity ratio of -8.40, a quick ratio of 0.56 and a current ratio of 0.56.
Resolute Energy Corporation Company Profile
Resolute Energy Corporation is an independent oil and gas company. The Company is engaged in the exploitation, development, exploration for and acquisition of oil and gas properties. The Company’s assets are located primarily in the Delaware Basin in west Texas (the Permian Properties or Permian Basin Properties) and Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties or Aneth Field).
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