Brokerages Anticipate Approach Resources Inc. (AREX) Will Post Earnings of -$0.07 Per Share

Analysts predict that Approach Resources Inc. (NASDAQ:AREX) will post earnings of ($0.07) per share for the current quarter, according to Zacks. Five analysts have made estimates for Approach Resources’ earnings. The highest EPS estimate is ($0.05) and the lowest is ($0.10). Approach Resources reported earnings per share of ($0.27) during the same quarter last year, which suggests a positive year over year growth rate of 74.1%. The company is expected to issue its next quarterly earnings report on Thursday, March 8th.

On average, analysts expect that Approach Resources will report full-year earnings of ($0.37) per share for the current year, with EPS estimates ranging from ($0.41) to ($0.34). For the next financial year, analysts expect that the company will post earnings of ($0.28) per share, with EPS estimates ranging from ($0.41) to ($0.16). Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Approach Resources.

Approach Resources (NASDAQ:AREX) last posted its quarterly earnings results on Wednesday, November 1st. The energy company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $25.61 million for the quarter, compared to analysts’ expectations of $25.74 million. Approach Resources had a negative return on equity of 6.39% and a negative net margin of 165.95%.

Several research analysts have weighed in on AREX shares. ValuEngine cut Approach Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded Approach Resources from a “hold” rating to a “buy” rating and set a $2.50 price objective on the stock in a research report on Tuesday, October 31st. Imperial Capital started coverage on Approach Resources in a research report on Friday, August 18th. They set an “in-line” rating and a $2.50 price objective on the stock. Robert W. Baird reiterated a “hold” rating and set a $4.00 price objective on shares of Approach Resources in a research report on Tuesday, September 26th. Finally, Scotiabank reiterated a “hold” rating and set a $3.00 price objective on shares of Approach Resources in a research report on Wednesday, November 22nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Approach Resources has a consensus rating of “Hold” and a consensus target price of $2.79.

Approach Resources (NASDAQ AREX) traded down $0.01 during mid-day trading on Friday, reaching $2.49. The company’s stock had a trading volume of 505,988 shares, compared to its average volume of 338,525. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.69. Approach Resources has a 1 year low of $1.93 and a 1 year high of $4.33.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Approach Resources by 21.6% in the second quarter. Vanguard Group Inc. now owns 1,959,374 shares of the energy company’s stock worth $6,603,000 after purchasing an additional 347,986 shares during the period. California Public Employees Retirement System boosted its stake in Approach Resources by 2.2% in the second quarter. California Public Employees Retirement System now owns 1,274,300 shares of the energy company’s stock valued at $4,294,000 after buying an additional 27,600 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Approach Resources by 447.7% in the first quarter. Goldman Sachs Group Inc. now owns 706,338 shares of the energy company’s stock valued at $1,773,000 after buying an additional 577,368 shares in the last quarter. Northern Trust Corp boosted its stake in Approach Resources by 264.2% in the second quarter. Northern Trust Corp now owns 557,713 shares of the energy company’s stock valued at $1,879,000 after buying an additional 404,580 shares in the last quarter. Finally, State Street Corp boosted its stake in Approach Resources by 2,151.6% in the second quarter. State Street Corp now owns 491,375 shares of the energy company’s stock valued at $1,657,000 after buying an additional 469,552 shares in the last quarter. Institutional investors own 24.73% of the company’s stock.

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About Approach Resources

Approach Resources Inc is an independent energy company. The Company is focused on the exploration, development, production and acquisition of unconventional oil and gas reserves in the Midland Basin of the greater Permian Basin in West Texas. The Company’s business segment is the exploration and production of oil, natural gas liquids (NGLs) and natural gas.

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Earnings History and Estimates for Approach Resources (NASDAQ:AREX)

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