Penn Virginia (PVAC) Expected to Post Quarterly Sales of $66.95 Million

Analysts expect that Penn Virginia (NASDAQ:PVAC) will report $66.95 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Penn Virginia’s earnings. The lowest sales estimate is $63.00 million and the highest is $70.90 million. Penn Virginia posted sales of $35.39 million during the same quarter last year, which would indicate a positive year over year growth rate of 89.2%. The firm is scheduled to issue its next earnings results on Tuesday, May 8th.

On average, analysts expect that Penn Virginia will report full-year sales of $375.05 million for the current fiscal year, with estimates ranging from $373.00 million to $377.10 million. For the next fiscal year, analysts expect that the firm will post sales of $520.20 million per share, with estimates ranging from $484.40 million to $556.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Penn Virginia.

Penn Virginia (NASDAQ:PVAC) last posted its quarterly earnings data on Thursday, March 1st. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. The company had revenue of $54.33 million for the quarter, compared to analyst estimates of $55.95 million. Penn Virginia had a return on equity of 20.39% and a net margin of 20.56%.



A number of research firms have commented on PVAC. SunTrust Banks set a $60.00 price objective on Penn Virginia and gave the stock a “buy” rating in a research note on Thursday. BidaskClub raised Penn Virginia from a “strong sell” rating to a “sell” rating in a research note on Thursday. Finally, Zacks Investment Research lowered Penn Virginia from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $58.33.

Penn Virginia stock traded up $0.93 on Friday, reaching $40.96. The company’s stock had a trading volume of 119,564 shares, compared to its average volume of 138,960. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $580.65, a P/E ratio of 13.90 and a beta of 1.46. Penn Virginia has a twelve month low of $31.00 and a twelve month high of $48.17.

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Penn Virginia during the third quarter worth $181,000. Alliancebernstein L.P. bought a new stake in shares of Penn Virginia during the fourth quarter worth $233,000. MetLife Investment Advisors LLC bought a new stake in shares of Penn Virginia during the fourth quarter worth $321,000. Highbridge Capital Management LLC bought a new stake in shares of Penn Virginia during the third quarter worth $414,000. Finally, Allianz Asset Management GmbH bought a new stake in shares of Penn Virginia during the third quarter worth $424,000. Institutional investors own 89.12% of the company’s stock.

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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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