Equities research analysts predict that Penn Virginia Co. (NASDAQ:PVAC) will announce $2.84 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Penn Virginia’s earnings, with estimates ranging from $2.44 to $3.24. Penn Virginia posted earnings of $0.57 per share in the same quarter last year, which indicates a positive year over year growth rate of 398.2%. The business is scheduled to issue its next quarterly earnings report on Wednesday, November 14th.
On average, analysts expect that Penn Virginia will report full year earnings of $10.35 per share for the current financial year, with EPS estimates ranging from $9.70 to $11.58. For the next financial year, analysts expect that the business will post earnings of $15.74 per share, with EPS estimates ranging from $13.56 to $17.29. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Penn Virginia.
Penn Virginia (NASDAQ:PVAC) last released its quarterly earnings results on Wednesday, August 8th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.02. Penn Virginia had a positive return on equity of 36.88% and a negative net margin of 3.23%. The business had revenue of $111.58 million during the quarter, compared to analyst estimates of $105.90 million.
Several brokerages have recently commented on PVAC. BidaskClub downgraded Penn Virginia from a “buy” rating to a “hold” rating in a research report on Saturday, July 28th. Zacks Investment Research upgraded Penn Virginia from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research report on Saturday, August 11th. TheStreet upgraded Penn Virginia from a “d+” rating to a “c-” rating in a research report on Wednesday, June 13th. SunTrust Banks boosted their price objective on Penn Virginia to $75.00 and gave the company an “average” rating in a research report on Thursday, May 10th. Finally, LADENBURG THALM/SH SH began coverage on Penn Virginia in a research report on Tuesday, June 12th. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $92.25.
NASDAQ:PVAC traded down $0.49 during mid-day trading on Friday, hitting $77.74. 6,901 shares of the company traded hands, compared to its average volume of 158,545. Penn Virginia has a one year low of $32.49 and a one year high of $96.13. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a market capitalization of $1.20 billion, a PE ratio of 26.99 and a beta of 1.29.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Penn Virginia by 111.0% in the second quarter. BlackRock Inc. now owns 1,959,412 shares of the company’s stock valued at $166,336,000 after acquiring an additional 1,030,640 shares in the last quarter. Contrarian Capital Management L.L.C. lifted its position in shares of Penn Virginia by 3.0% in the first quarter. Contrarian Capital Management L.L.C. now owns 1,151,589 shares of the company’s stock worth $40,352,000 after buying an additional 33,514 shares in the last quarter. FMR LLC purchased a new stake in shares of Penn Virginia in the second quarter worth about $49,293,000. Dimensional Fund Advisors LP lifted its position in shares of Penn Virginia by 52.8% in the second quarter. Dimensional Fund Advisors LP now owns 516,471 shares of the company’s stock worth $43,843,000 after buying an additional 178,430 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of Penn Virginia by 45.8% in the first quarter. Allianz Asset Management GmbH now owns 282,421 shares of the company’s stock worth $9,896,000 after buying an additional 88,652 shares in the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.
About Penn Virginia
Penn Virginia Corporation, an independent oil and gas company, engages in the onshore exploration, development, and production of crude oil, natural gas liquids, and natural gas in the United States. It primarily operates wells in the Eagle Ford Shale field in South Texas. The company also has operations in the Granite Wash in Oklahoma.
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