Goodrich Petroleum Corporation (NASDAQ:GDP) Expected to Announce Quarterly Sales of $34.78 Million

Wall Street analysts expect that Goodrich Petroleum Corporation (NASDAQ:GDP) will announce $34.78 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Goodrich Petroleum’s earnings, with estimates ranging from $31.80 million to $36.00 million. Goodrich Petroleum posted sales of $17.84 million during the same quarter last year, which suggests a positive year-over-year growth rate of 95%. The firm is expected to report its next quarterly earnings results before the market opens on Tuesday, August 6th.

According to Zacks, analysts expect that Goodrich Petroleum will report full year sales of $147.81 million for the current fiscal year, with estimates ranging from $142.70 million to $156.00 million. For the next fiscal year, analysts expect that the business will report sales of $191.34 million, with estimates ranging from $178.65 million to $223.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Goodrich Petroleum.

Goodrich Petroleum (NASDAQ:GDP) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.18). The company had revenue of $29.14 million during the quarter, compared to analyst estimates of $29.10 million.

Separately, B. Riley restated a “buy” rating on shares of Goodrich Petroleum in a research report on Monday, May 20th.

NASDAQ GDP traded down $0.01 during trading hours on Friday, reaching $11.29. 8,781 shares of the company’s stock were exchanged, compared to its average volume of 21,608. Goodrich Petroleum has a one year low of $10.67 and a one year high of $15.50. The business’s fifty day simple moving average is $11.66.

About Goodrich Petroleum

Goodrich Petroleum Corporation, an independent oil and natural gas company, engages in the exploration, development, and production of oil and natural gas. It primarily holds interests in the Haynesville Shale Trend in northwest Louisiana and East Texas; Tuscaloosa Marine Shale Trend located in southwest Mississippi and southeast Louisiana; and the Eagle Ford Shale Trend situated in South Texas.

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