Zacks: Brokerages Anticipate Abraxas Petroleum Corporation (AXAS) to Post $0.07 EPS
Brokerages expect Abraxas Petroleum Corporation (NASDAQ:AXAS) to post earnings per share of $0.07 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Abraxas Petroleum’s earnings. The highest EPS estimate is $0.08 and the lowest is $0.06. Abraxas Petroleum posted earnings per share of $0.01 during the same quarter last year, which suggests a positive year-over-year growth rate of 600%. The company is expected to announce its next earnings results on Tuesday, March 13th.
According to Zacks, analysts expect that Abraxas Petroleum will report full-year earnings of $0.15 per share for the current fiscal year, with EPS estimates ranging from $0.13 to $0.16. For the next year, analysts anticipate that the firm will post earnings of $0.28 per share, with EPS estimates ranging from $0.12 to $0.38. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Abraxas Petroleum.
Abraxas Petroleum (NASDAQ:AXAS) last announced its quarterly earnings results on Tuesday, November 7th. The energy company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $24.70 million during the quarter, compared to analysts’ expectations of $25.38 million. Abraxas Petroleum had a return on equity of 17.00% and a net margin of 18.83%. The firm’s revenue for the quarter was up 76.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.02) EPS.
Shares of Abraxas Petroleum (NASDAQ:AXAS) opened at $2.15 on Monday. The company has a market cap of $356.66, a price-to-earnings ratio of 23.89 and a beta of 1.43. Abraxas Petroleum has a one year low of $1.45 and a one year high of $2.99. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.61.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in shares of Abraxas Petroleum during the 2nd quarter valued at about $109,000. Raymond James Financial Services Advisors Inc. grew its holdings in Abraxas Petroleum by 149.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 67,101 shares of the energy company’s stock valued at $126,000 after purchasing an additional 40,200 shares during the last quarter. Susquehanna International Group LLP grew its holdings in Abraxas Petroleum by 73.0% during the 2nd quarter. Susquehanna International Group LLP now owns 67,792 shares of the energy company’s stock valued at $110,000 after purchasing an additional 28,606 shares during the last quarter. Voya Investment Management LLC grew its holdings in Abraxas Petroleum by 24.5% during the 2nd quarter. Voya Investment Management LLC now owns 73,546 shares of the energy company’s stock valued at $119,000 after purchasing an additional 14,483 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in Abraxas Petroleum by 106.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 81,798 shares of the energy company’s stock valued at $154,000 after purchasing an additional 42,188 shares during the last quarter. Hedge funds and other institutional investors own 45.90% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Zacks: Brokerages Anticipate Abraxas Petroleum Corporation (AXAS) to Post $0.07 EPS” was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/12/04/zacks-brokerages-anticipate-abraxas-petroleum-corporation-axas-to-post-0-07-eps.html.
Abraxas Petroleum Company Profile
Abraxas Petroleum Corporation is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and gas. As of December 31, 2016, the Company’s estimated net proved reserves were 44.7 million barrels of oil equivalent (MMBoe), of which 33.6% were classified as proved developed, 74% were oil and natural gas liquids (NGL), and 95% of which (on a PV-10 basis) were operated by the Company.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Abraxas Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abraxas Petroleum Corporation and related companies with MarketBeat.com's FREE daily email newsletter.