Zacks: Analysts Anticipate Earthstone Energy, Inc. (ESTE) Will Post Quarterly Sales of $40.51 Million

Brokerages expect Earthstone Energy, Inc. (NYSE:ESTE) to report sales of $40.51 million for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Earthstone Energy’s earnings. The lowest sales estimate is $33.80 million and the highest is $44.01 million. Earthstone Energy posted sales of $25.78 million during the same quarter last year, which would indicate a positive year over year growth rate of 57.1%. The business is scheduled to issue its next earnings report on Wednesday, August 8th.

According to Zacks, analysts expect that Earthstone Energy will report full-year sales of $185.32 million for the current financial year, with estimates ranging from $167.40 million to $195.03 million. For the next year, analysts anticipate that the firm will report sales of $258.02 million per share, with estimates ranging from $243.95 million to $283.01 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Earthstone Energy.

Earthstone Energy (NYSE:ESTE) last announced its quarterly earnings data on Thursday, May 3rd. The oil and gas producer reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.04. The firm had revenue of $40.90 million for the quarter, compared to the consensus estimate of $38.36 million. Earthstone Energy had a negative net margin of 5.93% and a positive return on equity of 5.70%.



ESTE has been the topic of several recent analyst reports. KLR Group initiated coverage on shares of Earthstone Energy in a research report on Thursday, February 8th. They set a “buy” rating and a $17.00 price objective on the stock. ValuEngine downgraded shares of Earthstone Energy from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research downgraded shares of Earthstone Energy from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Robert W. Baird set a $17.00 price target on shares of Earthstone Energy and gave the company a “buy” rating in a report on Thursday, March 15th. Finally, Imperial Capital set a $14.00 price target on shares of Earthstone Energy and gave the company a “buy” rating in a report on Thursday, April 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Earthstone Energy currently has an average rating of “Buy” and a consensus target price of $13.89.

Several large investors have recently modified their holdings of ESTE. Schwab Charles Investment Management Inc. grew its stake in shares of Earthstone Energy by 108.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 38,800 shares of the oil and gas producer’s stock worth $427,000 after buying an additional 20,200 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Earthstone Energy by 147.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 88,052 shares of the oil and gas producer’s stock worth $968,000 after buying an additional 52,445 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Earthstone Energy by 79.8% in the 3rd quarter. California State Teachers Retirement System now owns 31,537 shares of the oil and gas producer’s stock worth $347,000 after buying an additional 14,000 shares in the last quarter. Northpointe Capital LLC grew its stake in shares of Earthstone Energy by 42.3% in the 4th quarter. Northpointe Capital LLC now owns 739,807 shares of the oil and gas producer’s stock worth $7,864,000 after buying an additional 220,063 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Earthstone Energy by 56.9% in the 4th quarter. Victory Capital Management Inc. now owns 167,522 shares of the oil and gas producer’s stock worth $1,781,000 after buying an additional 60,751 shares in the last quarter. 18.07% of the stock is owned by institutional investors and hedge funds.

Shares of ESTE stock traded down $0.50 on Tuesday, hitting $8.61. 8,567 shares of the stock traded hands, compared to its average volume of 193,568. The company has a market capitalization of $590.77 million, a price-to-earnings ratio of 6.10 and a beta of 1.10. Earthstone Energy has a 52 week low of $7.85 and a 52 week high of $12.63. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.76 and a quick ratio of 0.76.

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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Earnings History and Estimates for Earthstone Energy (NYSE:ESTE)

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