SunTrust Banks Weighs in on SilverBow Resources Inc’s FY2018 Earnings (SBOW)

SilverBow Resources Inc (NYSE:SBOW) – Equities researchers at SunTrust Banks dropped their FY2018 EPS estimates for SilverBow Resources in a research note issued on Tuesday, November 27th. SunTrust Banks analyst N. Dingmann now forecasts that the company will earn $5.53 per share for the year, down from their previous estimate of $5.54. SunTrust Banks currently has a “Hold” rating and a $30.00 target price on the stock. SunTrust Banks also issued estimates for SilverBow Resources’ Q4 2018 earnings at $1.69 EPS, FY2019 earnings at $8.23 EPS and FY2020 earnings at $9.01 EPS.

SilverBow Resources (NYSE:SBOW) last announced its earnings results on Tuesday, November 6th. The company reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.64). SilverBow Resources had a net margin of 18.88% and a return on equity of 20.00%. The firm had revenue of $65.03 million for the quarter, compared to the consensus estimate of $61.10 million.

Several other equities research analysts also recently commented on the company. ValuEngine downgraded SilverBow Resources from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. Zacks Investment Research downgraded SilverBow Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 10th.

Shares of SBOW stock opened at $25.14 on Friday. SilverBow Resources has a fifty-two week low of $22.49 and a fifty-two week high of $34.76. The stock has a market cap of $297.56 million, a P/E ratio of 7.23 and a beta of 0.58. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 1.47.

In other news, Director Marcus C. Rowland sold 12,000 shares of the firm’s stock in a transaction dated Monday, November 12th. The stock was sold at an average price of $28.71, for a total transaction of $344,520.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought a total of 1,870 shares of company stock valued at $52,321 over the last ninety days. Company insiders own 2.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Globeflex Capital L P raised its stake in shares of SilverBow Resources by 12.0% during the 2nd quarter. Globeflex Capital L P now owns 15,790 shares of the company’s stock worth $456,000 after purchasing an additional 1,686 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of SilverBow Resources by 25.3% during the 2nd quarter. California Public Employees Retirement System now owns 8,906 shares of the company’s stock worth $257,000 after purchasing an additional 1,797 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of SilverBow Resources by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 90,455 shares of the company’s stock worth $2,612,000 after purchasing an additional 2,379 shares in the last quarter. BlackRock Inc. raised its stake in shares of SilverBow Resources by 0.8% during the 3rd quarter. BlackRock Inc. now owns 370,192 shares of the company’s stock worth $9,872,000 after purchasing an additional 2,777 shares in the last quarter. Finally, Strs Ohio raised its stake in shares of SilverBow Resources by 15.2% during the 2nd quarter. Strs Ohio now owns 26,500 shares of the company’s stock worth $765,000 after purchasing an additional 3,500 shares in the last quarter. 83.69% of the stock is owned by institutional investors.

SilverBow Resources Company Profile

SilverBow Resources, Inc, an energy company, engages in the exploration, development, and production of oil and gas from the Eagle Ford Shale in South Texas. As of December 31, 2017, it had proved reserves of 1.0 trillion cubic feet equivalent. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.

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Earnings History and Estimates for SilverBow Resources (NYSE:SBOW)

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