Analysts forecast that RGC Resources Inc. (NASDAQ:RGCO) will announce sales of $10.60 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for RGC Resources’ earnings, with the lowest sales estimate coming in at $10.20 million and the highest estimate coming in at $11.00 million. RGC Resources reported sales of $9.97 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.3%. The business is expected to announce its next quarterly earnings report on Thursday, November 21st.
According to Zacks, analysts expect that RGC Resources will report full year sales of $68.40 million for the current fiscal year, with estimates ranging from $67.80 million to $69.00 million. For the next year, analysts anticipate that the firm will post sales of $71.05 million, with estimates ranging from $70.10 million to $72.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that follow RGC Resources.
RGC Resources (NASDAQ:RGCO) last issued its earnings results on Wednesday, July 31st. The energy company reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14. RGC Resources had a net margin of 13.10% and a return on equity of 10.81%. The business had revenue of $11.68 million for the quarter, compared to analysts’ expectations of $12.55 million.
Hedge funds have recently bought and sold shares of the company. FCA Corp TX boosted its position in RGC Resources by 2.3% during the 2nd quarter. FCA Corp TX now owns 33,184 shares of the energy company’s stock worth $1,013,000 after acquiring an additional 740 shares during the period. GYL Financial Synergies LLC bought a new position in shares of RGC Resources in the 1st quarter worth about $385,000. Northern Trust Corp raised its position in shares of RGC Resources by 3.4% in the 2nd quarter. Northern Trust Corp now owns 85,773 shares of the energy company’s stock worth $2,618,000 after acquiring an additional 2,838 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of RGC Resources by 64.2% in the 2nd quarter. Renaissance Technologies LLC now owns 25,778 shares of the energy company’s stock worth $787,000 after acquiring an additional 10,078 shares in the last quarter. Finally, North Star Investment Management Corp. raised its position in shares of RGC Resources by 3.3% in the 2nd quarter. North Star Investment Management Corp. now owns 73,712 shares of the energy company’s stock worth $2,250,000 after acquiring an additional 2,325 shares in the last quarter.
NASDAQ RGCO traded down $0.06 during trading on Friday, hitting $28.41. The company’s stock had a trading volume of 299 shares, compared to its average volume of 8,488. The company has a quick ratio of 0.34, a current ratio of 0.56 and a debt-to-equity ratio of 1.07. The firm has a 50 day moving average price of $28.70 and a 200 day moving average price of $27.88. The firm has a market cap of $229.27 million, a P/E ratio of 29.91 and a beta of -0.18. RGC Resources has a 52 week low of $25.63 and a 52 week high of $31.00.
The company also recently disclosed a dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.165 per share. This is a boost from RGC Resources’s previous dividend of $0.16. The ex-dividend date is Friday, October 11th.
About RGC Resources
RGC Resources, Inc, through its subsidiaries, operates as an energy services company. The company sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. It also provides various unregulated services. The company operates approximately 1,141 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 8 metering stations.
Featured Story: 52-Week High/Low
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for RGC Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RGC Resources and related companies with MarketBeat.com's FREE daily email newsletter.