Zacks: Brokerages Anticipate Earthstone Energy Inc (ESTE) Will Post Quarterly Sales of $34.53 Million

Brokerages expect Earthstone Energy Inc (NYSE:ESTE) to announce $34.53 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Earthstone Energy’s earnings, with the highest sales estimate coming in at $37.20 million and the lowest estimate coming in at $31.90 million. Earthstone Energy reported sales of $15.15 million in the same quarter last year, which indicates a positive year over year growth rate of 127.9%. The company is expected to issue its next earnings report on Wednesday, March 21st.

According to Zacks, analysts expect that Earthstone Energy will report full year sales of $34.53 million for the current financial year, with estimates ranging from $104.53 million to $109.60 million. For the next year, analysts forecast that the business will report sales of $172.17 million per share, with estimates ranging from $157.00 million to $189.95 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Earthstone Energy.

Several analysts have commented on ESTE shares. Northland Securities reiterated a “buy” rating and set a $18.00 target price on shares of Earthstone Energy in a research report on Tuesday, September 26th. BidaskClub raised shares of Earthstone Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Zacks Investment Research raised shares of Earthstone Energy from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Tuesday, October 17th. ValuEngine downgraded shares of Earthstone Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Roth Capital set a $16.00 target price on shares of Earthstone Energy and gave the company a “buy” rating in a research note on Thursday, October 12th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $14.45.

Several large investors have recently modified their holdings of the company. Citadel Advisors LLC bought a new position in Earthstone Energy during the second quarter worth $105,000. New York State Common Retirement Fund increased its stake in Earthstone Energy by 849.2% in the second quarter. New York State Common Retirement Fund now owns 11,400 shares of the oil and gas producer’s stock valued at $114,000 after purchasing an additional 10,199 shares in the last quarter. Virtu KCG Holdings LLC bought a new stake in Earthstone Energy in the second quarter valued at $120,000. Brandywine Global Investment Management LLC bought a new stake in Earthstone Energy in the second quarter valued at $122,000. Finally, Rhumbline Advisers bought a new stake in Earthstone Energy in the third quarter valued at $135,000. Institutional investors own 13.41% of the company’s stock.

Earthstone Energy (NYSE ESTE) opened at $11.24 on Friday. Earthstone Energy has a 1-year low of $7.85 and a 1-year high of $15.50. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $732.19, a price-to-earnings ratio of 14.22 and a beta of 1.38.

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Earthstone Energy Company Profile

Earthstone Energy, Inc is an independent oil and natural gas development and production company. The Company is also engaged in corporate mergers and the acquisition of oil and natural gas properties that have production and future development opportunities. Its operations are all in the upstream segment of the oil and natural gas industry and all its properties are onshore in the United States.

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