Zacks: Brokerages Anticipate SilverBow Resources, Inc. (SBOW) Will Announce Earnings of $1.50 Per Share

Brokerages expect SilverBow Resources, Inc. (NYSE:SBOW) to announce earnings per share (EPS) of $1.50 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for SilverBow Resources’ earnings. The lowest EPS estimate is $1.35 and the highest is $1.65. The company is scheduled to announce its next quarterly earnings report on Monday, February 5th.

According to Zacks, analysts expect that SilverBow Resources will report full-year earnings of $5.50 per share for the current financial year. For the next year, analysts forecast that the firm will post earnings of $5.98 per share, with EPS estimates ranging from $5.31 to $6.64. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow SilverBow Resources.

SilverBow Resources (NYSE:SBOW) last announced its quarterly earnings results on Monday, November 6th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.21. SilverBow Resources had a net margin of 23.27% and a return on equity of 30.10%.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of SilverBow Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. BidaskClub upgraded shares of SilverBow Resources from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. Northland Securities assumed coverage on shares of SilverBow Resources in a research note on Thursday, September 28th. They issued an “outperform” rating and a $42.00 price target on the stock. Stephens assumed coverage on shares of SilverBow Resources in a research note on Friday, September 29th. They issued an “overweight” rating and a $28.00 price target on the stock. Finally, Seaport Global Securities upgraded shares of SilverBow Resources from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $32.50.

In related news, insider Sean C. Woolverton bought 1,102 shares of the stock in a transaction on Friday, December 15th. The shares were acquired at an average price of $23.54 per share, for a total transaction of $25,941.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sean C. Woolverton bought 761 shares of the stock in a transaction on Tuesday, January 16th. The shares were bought at an average price of $33.01 per share, for a total transaction of $25,120.61. The disclosure for this purchase can be found here. Insiders have acquired a total of 5,092 shares of company stock worth $127,252 in the last 90 days.

Several large investors have recently modified their holdings of the company. Pentwater Capital Management LP bought a new position in shares of SilverBow Resources in the 2nd quarter worth approximately $15,114,000. Wells Fargo & Company MN lifted its stake in shares of SilverBow Resources by 2.3% in the 3rd quarter. Wells Fargo & Company MN now owns 292,404 shares of the company’s stock worth $7,178,000 after purchasing an additional 6,628 shares during the period. Vanguard Group Inc. bought a new position in shares of SilverBow Resources in the 2nd quarter worth approximately $4,637,000. State Street Corp bought a new position in shares of SilverBow Resources in the 2nd quarter worth approximately $1,834,000. Finally, Northern Trust Corp bought a new position in shares of SilverBow Resources in the 2nd quarter worth approximately $1,762,000. Hedge funds and other institutional investors own 30.06% of the company’s stock.

SilverBow Resources (SBOW) opened at $32.24 on Friday. SilverBow Resources has a one year low of $19.89 and a one year high of $33.80. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

ILLEGAL ACTIVITY NOTICE: “Zacks: Brokerages Anticipate SilverBow Resources, Inc. (SBOW) Will Announce Earnings of $1.50 Per Share” was originally reported by American Banking News and is the property of of American Banking News. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://www.americanbankingnews.com/2018/01/21/zacks-brokerages-anticipate-silverbow-resources-inc-sbow-will-announce-earnings-of-1-50-per-share.html.

SilverBow Resources Company Profile

SilverBow Resources is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas from the Eagle Ford Shale in South Texas. With almost 30 years of history operating in South Texas, the Company possesses a significant understanding of regional reservoirs which they leverage to assemble drilling inventory.

Get a free copy of the Zacks research report on SilverBow Resources (SBOW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for SilverBow Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SilverBow Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply