-$0.07 Earnings Per Share Expected for Approach Resources Inc. (AREX) This Quarter

Analysts predict that Approach Resources Inc. (NASDAQ:AREX) will announce ($0.07) earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Approach Resources’ earnings. The highest EPS estimate is ($0.06) and the lowest is ($0.08). Approach Resources reported earnings per share of ($0.27) during the same quarter last year, which indicates a positive year-over-year growth rate of 74.1%. The company is scheduled to report its next earnings report after the market closes on Thursday, March 8th.

According to Zacks, analysts expect that Approach Resources will report full-year earnings of ($0.36) per share for the current financial year, with EPS estimates ranging from ($0.38) to ($0.35). For the next fiscal year, analysts forecast that the firm will report earnings of ($0.25) per share, with EPS estimates ranging from ($0.32) to ($0.17). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Approach Resources.

A number of equities analysts recently commented on AREX shares. Zacks Investment Research upgraded Approach Resources from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a report on Friday, January 12th. BidaskClub upgraded Approach Resources from a “hold” rating to a “buy” rating in a report on Thursday, January 11th. Scotiabank restated a “hold” rating and issued a $3.00 price objective on shares of Approach Resources in a report on Wednesday, November 22nd. Finally, KeyCorp restated a “hold” rating on shares of Approach Resources in a report on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Approach Resources currently has a consensus rating of “Hold” and an average price target of $3.08.

Approach Resources (NASDAQ AREX) opened at $2.86 on Friday. The firm has a market capitalization of $261.27, a PE ratio of -1.13 and a beta of 2.72. Approach Resources has a twelve month low of $1.93 and a twelve month high of $4.21. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.69.

In other news, major shareholder Wilks Brothers, Llc acquired 200,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were purchased at an average price of $2.39 per share, for a total transaction of $478,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 4,089,398 shares of company stock worth $11,804,970 in the last 90 days. 5.10% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Kornitzer Capital Management Inc. KS increased its holdings in Approach Resources by 68.1% in the third quarter. Kornitzer Capital Management Inc. KS now owns 61,700 shares of the energy company’s stock worth $155,000 after buying an additional 25,000 shares during the last quarter. California State Teachers Retirement System bought a new stake in Approach Resources during the second quarter worth approximately $257,000. State Street Corp boosted its position in Approach Resources by 2,151.6% during the second quarter. State Street Corp now owns 491,375 shares of the energy company’s stock worth $1,657,000 after purchasing an additional 469,552 shares during the period. Balyasny Asset Management LLC bought a new stake in Approach Resources during the second quarter worth approximately $910,000. Finally, Virtu KCG Holdings LLC boosted its position in Approach Resources by 182.8% during the second quarter. Virtu KCG Holdings LLC now owns 32,033 shares of the energy company’s stock worth $108,000 after purchasing an additional 20,705 shares during the period. Hedge funds and other institutional investors own 23.53% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This piece of content was published by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another site, it was illegally copied and republished in violation of U.S. & international copyright and trademark laws. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/02/09/0-07-earnings-per-share-expected-for-approach-resources-inc-arex-this-quarter.html.

Approach Resources Company Profile

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.

Get a free copy of the Zacks research report on Approach Resources (AREX)

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

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

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

Leave a Reply