Brokerages Anticipate Resolute Energy Corporation (REN) Will Announce Quarterly Sales of $79.71 Million

Brokerages expect Resolute Energy Corporation (NYSE:REN) to report $79.71 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Resolute Energy’s earnings. The highest sales estimate is $82.10 million and the lowest is $76.60 million. Resolute Energy posted sales of $62.67 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 27.2%. The company is scheduled to announce its next quarterly earnings results on Monday, March 12th.

According to Zacks, analysts expect that Resolute Energy will report full-year sales of $79.71 million for the current fiscal year, with estimates ranging from $297.00 million to $302.71 million. For the next fiscal year, analysts forecast that the company will post sales of $386.49 million per share, with estimates ranging from $312.40 million to $433.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Resolute Energy.

Resolute Energy (NYSE:REN) last issued its quarterly earnings results on Monday, November 6th. The oil and gas exploration company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.21). The business had revenue of $81.60 million for the quarter, compared to analyst estimates of $86.76 million. During the same quarter last year, the firm earned ($1.24) EPS. The company’s quarterly revenue was up 72.2% compared to the same quarter last year.

A number of brokerages have issued reports on REN. Imperial Capital restated a “buy” rating and set a $50.00 price target on shares of Resolute Energy in a research note on Monday, September 18th. SunTrust Banks restated a “buy” rating on shares of Resolute Energy in a research note on Friday, November 10th. BMO Capital Markets lowered shares of Resolute Energy from an “outperform” rating to a “market perform” rating and set a $35.00 price target on the stock. in a research note on Monday, September 18th. They noted that the move was a valuation call. Northland Securities set a $40.00 price objective on shares of Resolute Energy and gave the company a “buy” rating in a report on Monday. Finally, Goldman Sachs Group set a $37.00 price objective on shares of Resolute Energy and gave the company a “buy” rating in a report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $44.48.

In related news, Director James E. Duffy sold 2,000 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $28.04, for a total transaction of $56,080.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James E. Duffy sold 2,500 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $27.99, for a total transaction of $69,975.00. The disclosure for this sale can be found here. Insiders sold a total of 8,000 shares of company stock worth $229,845 over the last ninety days. Insiders own 7.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in REN. Northpointe Capital LLC purchased a new stake in Resolute Energy during the second quarter worth $152,000. Legal & General Group Plc purchased a new stake in Resolute Energy during the second quarter worth $168,000. Bank of America Corp DE boosted its holdings in Resolute Energy by 799.4% during the first 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 in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Resolute Energy by 6.7% during the second quarter. Parametric Portfolio Associates LLC now owns 7,507 shares of the oil and gas exploration company’s stock worth $223,000 after buying an additional 470 shares in the last quarter. Finally, Brown Advisory Inc. purchased a new stake in Resolute Energy during the third quarter worth $233,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Resolute Energy (NYSE REN) opened at $26.31 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of -8.75. Resolute Energy has a 52 week low of $23.64 and a 52 week high of $49.14.

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Resolute Energy 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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Earnings History and Estimates for Resolute Energy (NYSE:REN)

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