RGC Resources Inc. (RGCO) Expected to Post Earnings of $0.02 Per Share

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Brokerages expect that RGC Resources Inc. (NASDAQ:RGCO) will report earnings of $0.02 per share for the current quarter, according to Zacks. Two analysts have provided estimates for RGC Resources’ earnings, with the lowest EPS estimate coming in at $0.00 and the highest estimate coming in at $0.04. RGC Resources also reported earnings per share of $0.02 during the same quarter last year. The firm is scheduled to announce its next earnings results on Wednesday, November 21st.

According to Zacks, analysts expect that RGC Resources will report full-year earnings of $0.91 per share for the current fiscal year. For the next year, analysts expect that the business will post earnings of $1.00 per share. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow RGC Resources.

RGC Resources (NASDAQ:RGCO) last released its earnings results on Friday, August 3rd. The energy company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.04. RGC Resources had a net margin of 10.30% and a return on equity of 9.31%. The business had revenue of $11.89 million during the quarter, compared to analysts’ expectations of $12.25 million.

Several equities analysts recently weighed in on RGCO shares. Zacks Investment Research raised shares of RGC Resources from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Friday, August 10th. Janney Montgomery Scott cut shares of RGC Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, June 7th.

Several large investors have recently added to or reduced their stakes in RGCO. Rhumbline Advisers bought a new position in shares of RGC Resources in the second quarter valued at $206,000. Bank of America Corp DE grew its stake in shares of RGC Resources by 59.6% in the second quarter. Bank of America Corp DE now owns 7,095 shares of the energy company’s stock valued at $207,000 after buying an additional 2,650 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of RGC Resources in the second quarter valued at $212,000. First Trust Advisors LP acquired a new stake in RGC Resources during the 2nd quarter valued at $227,000. Finally, LPL Financial LLC acquired a new stake in RGC Resources during the 1st quarter valued at $249,000.

NASDAQ:RGCO opened at $27.69 on Friday. RGC Resources has a 1-year low of $22.16 and a 1-year high of $31.57. 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 firm has a market capitalization of $223.71 million, a P/E ratio of 32.20 and a beta of -0.04.

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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