SilverBow Resources Inc (SBOW) Expected to Announce Quarterly Sales of $61.10 Million

Equities analysts expect SilverBow Resources Inc (NYSE:SBOW) to post sales of $61.10 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for SilverBow Resources’ earnings, with estimates ranging from $59.00 million to $63.20 million. SilverBow Resources posted sales of $49.02 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 24.6%. The firm is expected to announce its next quarterly earnings report after the market closes on Tuesday, November 6th.

On average, analysts expect that SilverBow Resources will report full year sales of $237.70 million for the current year, with estimates ranging from $234.00 million to $241.40 million. For the next financial year, analysts anticipate that the company will report sales of $309.05 million, with estimates ranging from $293.00 million to $325.10 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for SilverBow Resources.

SilverBow Resources (NYSE:SBOW) last announced its quarterly earnings data on Tuesday, August 7th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.55). SilverBow Resources had a net margin of 23.04% and a return on equity of 24.31%. The company had revenue of $51.35 million for the quarter, compared to analyst estimates of $48.05 million.



SBOW has been the subject of a number of research analyst reports. SunTrust Banks lowered SilverBow Resources from a “buy” rating to a “hold” rating and reduced their target price for the company from $37.00 to $30.00 in a report on Monday, September 24th. Zacks Investment Research lowered SilverBow Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 10th. Finally, ValuEngine upgraded SilverBow Resources from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $29.67.

Shares of NYSE:SBOW opened at $27.64 on Wednesday. SilverBow Resources has a one year low of $21.53 and a one year high of $34.76. The firm has a market cap of $341.85 million, a PE ratio of 4.55 and a beta of 0.86. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.33 and a quick ratio of 0.33.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Globeflex Capital L P raised its holdings in shares of SilverBow Resources by 12.0% during the second quarter. Globeflex Capital L P now owns 15,790 shares of the company’s stock worth $456,000 after acquiring an additional 1,686 shares in the last quarter. BlackRock Inc. raised its holdings in shares of SilverBow Resources by 0.5% during the first quarter. BlackRock Inc. now owns 336,983 shares of the company’s stock worth $9,805,000 after acquiring an additional 1,772 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of SilverBow Resources by 25.3% during the second quarter. California Public Employees Retirement System now owns 8,906 shares of the company’s stock worth $257,000 after acquiring an additional 1,797 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of SilverBow Resources by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 90,455 shares of the company’s stock worth $2,612,000 after acquiring an additional 2,379 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of SilverBow Resources by 3.9% during the first quarter. Northern Trust Corp now owns 79,276 shares of the company’s stock worth $2,307,000 after acquiring an additional 2,954 shares in the last quarter. Institutional investors own 81.02% of the company’s stock.

SilverBow Resources Company Profile

SilverBow Resources, Inc, an energy company, engages in the exploration, development, and production of oil and gas from the Eagle Ford Shale in South Texas. As of December 31, 2017, it had proved reserves of 1.0 trillion cubic feet equivalent. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.

See Also: Liquidity

Get a free copy of the Zacks research report on SilverBow Resources (SBOW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for SilverBow Resources (NYSE:SBOW)

Receive News & Ratings for SilverBow Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SilverBow Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply