$87.55 Million in Sales Expected for SRC Energy Inc (NASDAQ:SRCI) This Quarter

Brokerages expect that SRC Energy Inc (NASDAQ:SRCI) will announce sales of $87.55 million for the current quarter, according to Zacks. Nine analysts have made estimates for SRC Energy’s earnings. The lowest sales estimate is $72.81 million and the highest is $101.99 million. SRC Energy reported sales of $26.23 million in the same quarter last year, which indicates a positive year over year growth rate of 233.8%. The company is scheduled to report its next quarterly earnings report on Thursday, November 2nd.

According to Zacks, analysts expect that SRC Energy will report full-year sales of $87.55 million for the current financial year, with estimates ranging from $261.36 million to $343.63 million. For the next year, analysts forecast that the business will report sales of $493.19 million per share, with estimates ranging from $317.50 million to $600.64 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover SRC Energy.

SRC Energy (NASDAQ:SRCI) last released its quarterly earnings results on Thursday, August 3rd. The oil and natural gas company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.03. The company had revenue of $75.04 million for the quarter, compared to analyst estimates of $68.08 million. SRC Energy had a return on equity of 9.36% and a net margin of 44.12%.

Several equities research analysts recently commented on SRCI shares. Zacks Investment Research upgraded SRC Energy from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a research report on Thursday, July 20th. Stifel Nicolaus restated a “buy” rating and set a $10.00 target price on shares of SRC Energy in a research report on Friday, July 14th. Scotiabank set a $10.00 target price on SRC Energy and gave the company a “buy” rating in a research report on Saturday, July 1st. Simmons upped their price target on SRC Energy from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, April 17th. Finally, Roth Capital set a $11.00 price target on SRC Energy and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $11.63.

ILLEGAL ACTIVITY WARNING: This article was originally published by Community Financial News and is the property of of Community Financial News. If you are viewing this article on another publication, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this article can be accessed at https://www.com-unik.info/2017/08/12/87-55-million-in-sales-expected-for-src-energy-inc-nasdaqsrci-this-quarter.html.

Shares of SRC Energy (SRCI) opened at 8.18 on Friday. The firm has a market cap of $1.64 billion and a price-to-earnings ratio of 48.40. SRC Energy has a 52-week low of $5.87 and a 52-week high of $10.38. The stock’s 50 day moving average price is $7.50 and its 200-day moving average price is $7.73.

In related news, COO Nicholas Spence acquired 8,000 shares of the stock in a transaction dated Thursday, June 8th. The stock was purchased at an average cost of $6.45 per share, with a total value of $51,600.00. Following the completion of the purchase, the chief operating officer now directly owns 108,222 shares in the company, valued at approximately $698,031.90. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of SRC Energy during the first quarter valued at approximately $203,143,000. Victory Capital Management Inc. bought a new stake in shares of SRC Energy during the first quarter valued at approximately $120,737,000. Alliancebernstein L.P. bought a new stake in shares of SRC Energy during the first quarter valued at approximately $116,804,000. Vanguard Group Inc. bought a new stake in shares of SRC Energy during the first quarter valued at approximately $87,294,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of SRC Energy during the first quarter valued at approximately $87,050,000.

About SRC Energy

SRC Energy Inc, formerly Synergy Resources Corporation, is an independent oil and natural gas company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in and around the Denver-Julesburg Basin (D-J Basin) of Colorado. The D-J Basin generally extends from the Denver metropolitan area throughout northeast Colorado into Wyoming, Nebraska, and Kansas.

Get a free copy of the Zacks research report on SRC Energy (SRCI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

What are top analysts saying about SRC Energy Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for SRC Energy Inc and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit