Zacks: Analysts Anticipate Earthstone Energy Inc (ESTE) to Announce $0.16 EPS

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Analysts expect that Earthstone Energy Inc (NYSE:ESTE) will report earnings of $0.16 per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Earthstone Energy’s earnings, with the highest EPS estimate coming in at $0.27 and the lowest estimate coming in at $0.08. Earthstone Energy posted earnings of $0.07 per share in the same quarter last year, which indicates a positive year over year growth rate of 128.6%. The firm is expected to announce its next earnings report on Thursday, November 1st.

On average, analysts expect that Earthstone Energy will report full year earnings of $0.76 per share for the current financial year, with EPS estimates ranging from $0.55 to $1.00. For the next year, analysts expect that the company will post earnings of $1.10 per share, with EPS estimates ranging from $0.48 to $1.66. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Earthstone Energy.

Earthstone Energy (NYSE:ESTE) last released its earnings results on Monday, August 6th. The oil and gas producer reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.13). The business had revenue of $37.15 million for the quarter, compared to the consensus estimate of $39.19 million. Earthstone Energy had a return on equity of 2.47% and a net margin of 6.79%.

A number of equities research analysts have recently commented on ESTE shares. Zacks Investment Research cut Earthstone Energy from a “buy” rating to a “hold” rating in a research note on Friday, May 25th. ValuEngine cut Earthstone Energy from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Royal Bank of Canada started coverage on Earthstone Energy in a research note on Monday, July 9th. They set an “outperform” rating on the stock. Seaport Global Securities reiterated a “buy” rating on shares of Earthstone Energy in a research note on Wednesday, July 25th. Finally, SunTrust Banks set a $13.00 target price on Earthstone Energy and gave the stock a “buy” rating in a research note on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $13.33.

Shares of NYSE ESTE traded down $0.13 during mid-day trading on Wednesday, reaching $7.98. 1,969 shares of the company’s stock were exchanged, compared to its average volume of 178,812. The stock has a market capitalization of $537.41 million, a price-to-earnings ratio of 5.59, a PEG ratio of 0.37 and a beta of 1.25. Earthstone Energy has a 52 week low of $7.45 and a 52 week high of $12.16. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.30 and a quick ratio of 0.30.

A number of institutional investors have recently made changes to their positions in ESTE. Globeflex Capital L P bought a new stake in Earthstone Energy in the 2nd quarter valued at about $120,000. Two Sigma Investments LP purchased a new position in Earthstone Energy during the 4th quarter valued at about $179,000. Engineers Gate Manager LP purchased a new position in Earthstone Energy during the 2nd quarter valued at about $196,000. Mesirow Financial Investment Management Inc. purchased a new position in Earthstone Energy during the 2nd quarter valued at about $247,000. Finally, Goldman Sachs Group Inc. grew its holdings in Earthstone Energy by 71.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 26,787 shares of the oil and gas producer’s stock valued at $285,000 after buying an additional 11,141 shares in the last quarter. Institutional investors and hedge funds own 16.44% of the company’s stock.

About Earthstone Energy

Earthstone Energy, Inc, an oil and natural gas development and production company, operates in the up-stream segment of the oil and natural gas industry in the United States. Its asset portfolio includes the Midland Basin of west Texas and the Eagle Ford trend of south Texas. As of December 31, 2017, the company operated 91 gross Eagle Ford wells; and 12 gross Austin Chalk wells, as well as had 79,976 thousand barrels of oil equivalent (MBOE) of total proved reserves, 19,961 MBOE of proved developed reserves, and 60,015 MBOE of proved undeveloped reserves.

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