Brokerages forecast that Laredo Petroleum Inc (NYSE:LPI) will report $199.33 million in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Laredo Petroleum’s earnings, with the highest sales estimate coming in at $233.82 million and the lowest estimate coming in at $170.00 million. Laredo Petroleum reported sales of $279.75 million in the same quarter last year, which would suggest a negative year over year growth rate of 28.7%. The business is expected to issue its next quarterly earnings report on Monday, November 4th.
According to Zacks, analysts expect that Laredo Petroleum will report full-year sales of $800.70 million for the current year, with estimates ranging from $670.00 million to $903.85 million. For the next financial year, analysts anticipate that the firm will post sales of $853.26 million, with estimates ranging from $717.00 million to $1.01 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last announced its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. Laredo Petroleum had a return on equity of 15.59% and a net margin of 40.05%. The firm had revenue of $216.60 million during the quarter, compared to the consensus estimate of $213.24 million. During the same quarter in the prior year, the company earned $0.25 EPS. The firm’s revenue for the quarter was down 38.3% compared to the same quarter last year.
In related news, major shareholder Warburg Pincus Llc sold 69,874 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $2.76, for a total transaction of $192,852.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of LPI. King Luther Capital Management Corp bought a new position in shares of Laredo Petroleum during the 2nd quarter worth approximately $29,000. LPL Financial LLC acquired a new stake in Laredo Petroleum during the 2nd quarter valued at $33,000. Cornerstone Investment Partners LLC acquired a new stake in Laredo Petroleum during the 1st quarter valued at $51,000. Birch Hill Investment Advisors LLC acquired a new stake in Laredo Petroleum during the 2nd quarter valued at $56,000. Finally, Magnus Financial Group LLC acquired a new stake in Laredo Petroleum during the 2nd quarter valued at $73,000. Institutional investors and hedge funds own 96.06% of the company’s stock.
NYSE:LPI traded down $0.13 during mid-day trading on Thursday, hitting $2.67. 3,612,211 shares of the company’s stock traded hands, compared to its average volume of 5,520,011. The firm has a 50 day moving average of $2.88 and a two-hundred day moving average of $3.10. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. Laredo Petroleum has a 12 month low of $2.38 and a 12 month high of $9.03. The firm has a market capitalization of $657.79 million, a price-to-earnings ratio of 2.87 and a beta of 1.46.
Laredo Petroleum Company Profile
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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