$0.19 Earnings Per Share Expected for Laredo Petroleum Inc (NYSE:LPI) This Quarter

Analysts expect Laredo Petroleum Inc (NYSE:LPI) to report earnings of $0.19 per share for the current quarter, according to Zacks. Six analysts have issued estimates for Laredo Petroleum’s earnings, with estimates ranging from $0.11 to $0.33. Laredo Petroleum posted earnings per share of $0.25 in the same quarter last year, which suggests a negative year over year growth rate of 24%. The business is scheduled to issue its next earnings results after the market closes on Wednesday, July 31st.

According to Zacks, analysts expect that Laredo Petroleum will report full year earnings of $0.73 per share for the current year, with EPS estimates ranging from $0.49 to $0.95. For the next year, analysts expect that the business will post earnings of $0.92 per share, with EPS estimates ranging from $0.57 to $1.57. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Laredo Petroleum.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. Laredo Petroleum had a net margin of 21.68% and a return on equity of 17.30%. The business had revenue of $208.95 million for the quarter, compared to the consensus estimate of $198.64 million. During the same period in the prior year, the firm earned $0.24 EPS. The business’s revenue for the quarter was down 19.5% on a year-over-year basis.



A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Williams Capital raised shares of Laredo Petroleum from a “hold” rating to a “buy” rating and increased their target price for the stock from $4.00 to $5.50 in a research note on Thursday, May 16th. Robert W. Baird increased their target price on shares of Carvana from $65.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Capital One Financial raised shares of Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Finally, Credit Suisse Group raised shares of Laredo Petroleum from an “underperform” rating to a “neutral” rating and set a $2.83 price objective for the company in a research note on Tuesday, July 9th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Laredo Petroleum presently has a consensus rating of “Hold” and a consensus target price of $6.51.

Several large investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in Laredo Petroleum by 2.8% in the 4th quarter. BlackRock Inc. now owns 23,586,126 shares of the oil and gas producer’s stock worth $85,382,000 after acquiring an additional 641,490 shares during the period. Dimensional Fund Advisors LP increased its position in Laredo Petroleum by 15.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,125,338 shares of the oil and gas producer’s stock worth $36,654,000 after buying an additional 1,330,494 shares during the period. Bank of New York Mellon Corp increased its position in Laredo Petroleum by 171.2% in the fourth quarter. Bank of New York Mellon Corp now owns 5,602,765 shares of the oil and gas producer’s stock worth $20,282,000 after buying an additional 3,537,075 shares during the period. Norges Bank acquired a new stake in Laredo Petroleum in the fourth quarter worth $11,611,000. Finally, Northern Trust Corp increased its position in Laredo Petroleum by 1.2% in the fourth quarter. Northern Trust Corp now owns 1,993,735 shares of the oil and gas producer’s stock worth $7,218,000 after buying an additional 23,566 shares during the period. Institutional investors and hedge funds own 96.59% of the company’s stock.

NYSE:LPI traded down $0.09 during trading hours on Friday, reaching $2.93. 86,790 shares of the company were exchanged, compared to its average volume of 4,955,848. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50-day moving average of $2.77. The firm has a market cap of $700.20 million, a price-to-earnings ratio of 3.15 and a beta of 1.47. Laredo Petroleum has a twelve month low of $2.40 and a twelve month high of $9.81.

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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Earnings History and Estimates for Laredo Petroleum (NYSE:LPI)

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