Brokerages expect Abraxas Petroleum Corp. (NASDAQ:AXAS) to report sales of $29.70 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Abraxas Petroleum’s earnings. The highest sales estimate is $30.40 million and the lowest is $29.00 million. Abraxas Petroleum reported sales of $22.01 million in the same quarter last year, which would suggest a positive year over year growth rate of 34.9%. The business is expected to report its next quarterly earnings report before the market opens on Wednesday, March 14th.
On average, analysts expect that Abraxas Petroleum will report full-year sales of $29.70 million for the current fiscal year, with estimates ranging from $85.00 million to $87.10 million. For the next year, analysts anticipate that the company will report sales of $174.50 million per share, with estimates ranging from $161.00 million to $195.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Abraxas Petroleum.
Several research analysts recently weighed in on AXAS shares. Stifel Nicolaus increased their target price on Abraxas Petroleum from $3.10 to $3.30 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. BidaskClub lowered Abraxas Petroleum from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 30th. Canaccord Genuity reaffirmed a “buy” rating and issued a $3.00 target price on shares of Abraxas Petroleum in a research report on Wednesday, January 24th. Zacks Investment Research lowered Abraxas Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Finally, Robert W. Baird raised Abraxas Petroleum from a “neutral” rating to an “outperform” rating and set a $3.00 target price on the stock in a research report on Tuesday, December 19th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $2.81.
Abraxas Petroleum (NASDAQ AXAS) opened at $2.20 on Monday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $364.96, a price-to-earnings ratio of 24.45 and a beta of 1.39. Abraxas Petroleum has a 52 week low of $1.45 and a 52 week high of $2.74.
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.
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