Wall Street analysts expect that Baytex Energy (NYSE:BTE) (TSE:BTE) will post earnings of ($0.13) per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Baytex Energy’s earnings. Baytex Energy posted earnings per share of $0.04 in the same quarter last year, which would indicate a negative year-over-year growth rate of 425%. The business is scheduled to issue its next quarterly earnings report before the market opens on Thursday, May 3rd.
According to Zacks, analysts expect that Baytex Energy will report full-year earnings of ($0.44) per share for the current financial year, with EPS estimates ranging from ($0.46) to ($0.41). For the next financial year, analysts forecast that the company will post earnings of ($0.09) per share, with EPS estimates ranging from ($0.26) to $0.09. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Baytex Energy.
Baytex Energy (NYSE:BTE) (TSE:BTE) last posted its quarterly earnings data on Tuesday, March 6th. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. Baytex Energy had a net margin of 10.56% and a negative return on equity of 0.82%. The business had revenue of $302.19 million during the quarter, compared to the consensus estimate of $278.72 million. During the same quarter last year, the company posted ($1.66) earnings per share. The firm’s quarterly revenue was up 29.6% compared to the same quarter last year.
A number of analysts recently issued reports on BTE shares. Zacks Investment Research downgraded shares of Baytex Energy from a “buy” rating to a “hold” rating in a report on Monday, January 15th. AltaCorp Capital upgraded shares of Baytex Energy to a “buy” rating and set a $5.75 price objective for the company in a report on Monday, January 15th. ValuEngine downgraded shares of Baytex Energy from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Finally, GMP Securities upgraded shares of Baytex Energy from a “hold” rating to a “buy” rating in a report on Friday, March 9th. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $4.58.
Several institutional investors and hedge funds have recently bought and sold shares of BTE. JPMorgan Chase & Co. increased its stake in shares of Baytex Energy by 776.9% in the third quarter. JPMorgan Chase & Co. now owns 3,171,372 shares of the oil and gas producer’s stock worth $9,641,000 after purchasing an additional 2,809,730 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in shares of Baytex Energy by 10.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 297,055 shares of the oil and gas producer’s stock worth $891,000 after purchasing an additional 28,125 shares in the last quarter. Aperio Group LLC increased its stake in shares of Baytex Energy by 386.5% in the fourth quarter. Aperio Group LLC now owns 91,099 shares of the oil and gas producer’s stock worth $273,000 after purchasing an additional 72,373 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Baytex Energy by 39.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 269,268 shares of the oil and gas producer’s stock valued at $808,000 after acquiring an additional 76,262 shares during the period. Finally, Ninepoint Partners LP boosted its position in shares of Baytex Energy by 45.6% in the fourth quarter. Ninepoint Partners LP now owns 830,000 shares of the oil and gas producer’s stock valued at $2,490,000 after acquiring an additional 260,000 shares during the period. Hedge funds and other institutional investors own 21.41% of the company’s stock.
NYSE BTE traded up $0.06 during trading hours on Thursday, reaching $3.80. 2,339,228 shares of the company were exchanged, compared to its average volume of 1,913,876. Baytex Energy has a 1 year low of $2.13 and a 1 year high of $3.90. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $837.49, a PE ratio of -190.00 and a beta of 3.17.
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Baytex Energy Company Profile
Baytex Energy Corp., an oil and gas company, engages in the acquisition, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. It offers heavy oil, heavy gravity crude oil, bitumen, light oil, and natural gas liquids. Its primary oil resource plays include the Eagle Ford in Texas, and the Peace River Oil Sands and Lloydminster heavy oil projects in North America.
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