Analysts expect Laredo Petroleum Inc (NYSE:LPI) to report sales of $178.00 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Laredo Petroleum’s earnings. The highest sales estimate is $195.00 million and the lowest is $160.00 million. Laredo Petroleum reported sales of $259.70 million during the same quarter last year, which indicates a negative year-over-year growth rate of 31.5%. The company is scheduled to issue its next quarterly earnings results on Wednesday, May 1st.
On average, analysts expect that Laredo Petroleum will report full year sales of $742.76 million for the current year, with estimates ranging from $659.00 million to $883.00 million. For the next fiscal year, analysts expect that the company will report sales of $755.81 million, with estimates ranging from $664.00 million to $927.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last announced its earnings results on Wednesday, February 13th. The oil and gas producer reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.04). The business had revenue of $215.28 million for the quarter, compared to the consensus estimate of $253.75 million. Laredo Petroleum had a net margin of 29.37% and a return on equity of 21.16%. The firm’s revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS.
Several brokerages have recently issued reports on LPI. Raymond James set a $5.00 price target on Laredo Petroleum and gave the company a “buy” rating in a research report on Wednesday, January 23rd. MKM Partners reiterated a “neutral” rating and set a $3.00 price target (down from $5.00) on shares of Laredo Petroleum in a research report on Friday, February 15th. Robert W. Baird lowered their price target on Laredo Petroleum from $10.00 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, January 4th. Capital One Financial cut Laredo Petroleum from an “overweight” rating to an “underweight” rating in a research report on Thursday, December 20th. Finally, Societe Generale cut Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Laredo Petroleum has a consensus rating of “Hold” and an average price target of $6.71.
A number of large investors have recently bought and sold shares of the business. Pearl River Capital LLC bought a new stake in shares of Laredo Petroleum during the fourth quarter worth about $35,000. Pitcairn Co. purchased a new position in Laredo Petroleum in the 4th quarter valued at $42,000. Shelton Capital Management purchased a new position in Laredo Petroleum in the 4th quarter valued at $56,000. Riverhead Capital Management LLC purchased a new position in shares of Laredo Petroleum during the 3rd quarter worth $150,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Laredo Petroleum by 155.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 18,773 shares of the oil and gas producer’s stock worth $67,000 after acquiring an additional 11,427 shares during the period. 99.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Laredo Petroleum stock opened at $3.14 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $765.47 million, a price-to-earnings ratio of 3.38 and a beta of 1.47. Laredo Petroleum has a 1-year low of $2.80 and a 1-year high of $11.18.
About Laredo Petroleum
Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.
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