Brokerages forecast that RGC Resources Inc. (NASDAQ:RGCO) will announce $10.40 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for RGC Resources’ earnings. The lowest sales estimate is $10.00 million and the highest is $10.80 million. RGC Resources posted sales of $10.17 million during the same quarter last year, which suggests a positive year-over-year growth rate of 2.3%. The company is scheduled to report its next quarterly earnings report on Wednesday, November 21st.
On average, analysts expect that RGC Resources will report full year sales of $65.70 million for the current year, with estimates ranging from $65.00 million to $66.40 million. For the next year, analysts forecast that the business will report sales of $67.95 million per share, with estimates ranging from $67.90 million to $68.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow RGC Resources.
RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings data on Friday, August 3rd. The energy company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.10 by $0.04. The firm had revenue of $11.89 million during the quarter, compared to analyst estimates of $12.25 million. RGC Resources had a net margin of 10.30% and a return on equity of 9.31%.
Several research firms recently commented on RGCO. Zacks Investment Research upgraded shares of RGC Resources from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Friday, August 10th. Janney Montgomery Scott lowered shares of RGC Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, June 7th.
NASDAQ RGCO opened at $28.01 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.54 and a quick ratio of 0.29. The company has a market cap of $225.15 million, a P/E ratio of 32.57 and a beta of -0.04. RGC Resources has a 52 week low of $22.16 and a 52 week high of $31.57.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in shares of RGC Resources by 4.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,217 shares of the energy company’s stock worth $1,611,000 after acquiring an additional 2,216 shares in the last quarter. Bank of America Corp DE grew its position in RGC Resources by 59.6% during the 2nd quarter. Bank of America Corp DE now owns 7,095 shares of the energy company’s stock worth $207,000 after purchasing an additional 2,650 shares during the last quarter. BlackRock Inc. grew its position in RGC Resources by 1.2% during the 4th quarter. BlackRock Inc. now owns 287,772 shares of the energy company’s stock worth $7,793,000 after purchasing an additional 3,325 shares during the last quarter. UBS Group AG grew its position in RGC Resources by 18.0% during the 1st quarter. UBS Group AG now owns 41,556 shares of the energy company’s stock worth $1,056,000 after purchasing an additional 6,327 shares during the last quarter. Finally, Rhumbline Advisers purchased a new stake in RGC Resources during the 2nd quarter worth approximately $206,000.
RGC Resources Company Profile
RGC Resources, Inc, through its subsidiaries, operates as an energy services company. The company sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. It also provides various unregulated services. The company operates approximately 1,135 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility located in Botetourt County, as well as owns and operates 8 metering stations.
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