Zacks: Brokerages Anticipate Falcon Minerals Corp (NASDAQ:FLMN) Will Announce Quarterly Sales of $6.20 Million

Equities research analysts expect Falcon Minerals Corp (NASDAQ:FLMN) to post sales of $6.20 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Falcon Minerals’ earnings, with the highest sales estimate coming in at $7.00 million and the lowest estimate coming in at $5.80 million. Falcon Minerals posted sales of $18.25 million in the same quarter last year, which would indicate a negative year over year growth rate of 66%. The company is scheduled to announce its next earnings results after the market closes on Wednesday, August 5th.

On average, analysts expect that Falcon Minerals will report full-year sales of $40.73 million for the current year, with estimates ranging from $37.90 million to $43.00 million. For the next financial year, analysts expect that the firm will report sales of $53.23 million, with estimates ranging from $43.90 million to $62.00 million. Zacks’ sales averages are an average based on a survey of analysts that cover Falcon Minerals.

Falcon Minerals (NASDAQ:FLMN) last issued its earnings results on Thursday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Falcon Minerals had a return on equity of 4.50% and a net margin of 18.38%. The company had revenue of $13.60 million during the quarter, compared to the consensus estimate of $14.23 million.

Several research firms have weighed in on FLMN. ValuEngine raised Falcon Minerals from a “sell” rating to a “hold” rating in a report on Friday, May 1st. Royal Bank of Canada reaffirmed a “hold” rating and issued a $5.00 price target on shares of Falcon Minerals in a report on Sunday, July 26th. Zacks Investment Research raised Falcon Minerals from a “sell” rating to a “hold” rating in a report on Monday, June 29th. Finally, Piper Sandler raised their price target on Falcon Minerals from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Falcon Minerals has a consensus rating of “Hold” and a consensus price target of $4.97.

Shares of NASDAQ FLMN opened at $2.51 on Thursday. Falcon Minerals has a 52 week low of $1.60 and a 52 week high of $8.33. The business has a 50-day simple moving average of $3.06 and a two-hundred day simple moving average of $3.36. The company has a quick ratio of 5.38, a current ratio of 5.38 and a debt-to-equity ratio of 0.19. The company has a market cap of $215.84 million, a P/E ratio of 10.46 and a beta of 1.56.

In other Falcon Minerals news, Director Brian L. Frank acquired 40,000 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was bought at an average price of $2.41 per share, with a total value of $96,400.00. Following the purchase, the director now owns 277,212 shares of the company’s stock, valued at $668,080.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.80% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Great West Life Assurance Co. Can purchased a new stake in Falcon Minerals during the 4th quarter valued at $26,000. SG Americas Securities LLC bought a new position in Falcon Minerals in the 1st quarter worth $27,000. Janus Henderson Group PLC bought a new position in Falcon Minerals in the 1st quarter worth $29,000. Howard Financial Services LTD. bought a new position in Falcon Minerals in the 1st quarter worth $37,000. Finally, Citigroup Inc. raised its holdings in Falcon Minerals by 207.6% in the 1st quarter. Citigroup Inc. now owns 26,590 shares of the company’s stock worth $57,000 after purchasing an additional 17,946 shares in the last quarter. 34.87% of the stock is owned by institutional investors.

About Falcon Minerals

Falcon Minerals Corporation acquires and owns mineral, royalty, and over-riding royalty interests in oil and natural gas properties in North America. It owns interests covering approximately 256,000 gross unit acres in the Eagle Ford Shale and Austin Chalk in Karnes, DeWitt, and Gonzales Counties in Texas, as well as approximately 68,000 gross unit acres in Pennsylvania, Ohio, and West Virginia that is prospective for the Marcellus Shale.

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Earnings History and Estimates for Falcon Minerals (NASDAQ:FLMN)

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