Zacks: Analysts Expect Baytex Energy Corp (BTE) Will Announce Earnings of -$0.13 Per Share

Equities analysts predict that Baytex Energy Corp (NYSE:BTE) (TSE:BTE) will announce earnings of ($0.13) per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Baytex Energy’s earnings. Baytex Energy posted earnings of ($0.29) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 55.2%. The firm is expected to report its next quarterly earnings results on Tuesday, March 6th.

According to Zacks, analysts expect that Baytex Energy will report full-year earnings of ($0.13) per share for the current financial year, with EPS estimates ranging from ($0.17) to ($0.09). For the next year, analysts anticipate that the business will post earnings of ($0.57) per share, with EPS estimates ranging from ($0.67) to ($0.46). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Baytex Energy.

Several brokerages recently weighed in on BTE. GMP Securities downgraded shares of Baytex Energy from a “buy” rating to a “hold” rating in a report on Monday, December 11th. Zacks Investment Research upgraded Baytex Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Canaccord Genuity reiterated a “buy” rating and set a $4.25 target price on shares of Baytex Energy in a research report on Thursday, November 2nd. Barclays lowered Baytex Energy from an “equal weight” rating to an “underweight” rating in a research report on Monday, October 30th. Finally, AltaCorp Capital lowered Baytex Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 6th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $4.25.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Guardian Capital Advisors LP lifted its stake in Baytex Energy by 6.8% in the third quarter. Guardian Capital Advisors LP now owns 268,334 shares of the oil and gas producer’s stock valued at $861,000 after buying an additional 17,002 shares during the last quarter. Citadel Advisors LLC increased its holdings in shares of Baytex Energy by 614.8% in the third quarter. Citadel Advisors LLC now owns 312,849 shares of the oil and gas producer’s stock valued at $942,000 after purchasing an additional 269,083 shares during the period. Schroder Investment Management Group increased its holdings in shares of Baytex Energy by 3.3% in the third quarter. Schroder Investment Management Group now owns 3,126,500 shares of the oil and gas producer’s stock valued at $11,849,000 after purchasing an additional 98,700 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Baytex Energy by 776.9% in the third quarter. JPMorgan Chase & Co. now owns 3,171,372 shares of the oil and gas producer’s stock valued at $9,641,000 after purchasing an additional 2,809,730 shares during the period. Finally, ING Groep NV acquired a new position in Baytex Energy during the third quarter worth $271,000. Institutional investors and hedge funds own 16.47% of the company’s stock.

Baytex Energy (NYSE BTE) traded down $0.06 during mid-day trading on Friday, hitting $2.79. 1,823,151 shares of the company’s stock traded hands, compared to its average volume of 1,764,473. Baytex Energy has a 1-year low of $2.13 and a 1-year high of $5.20. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $655.04, a price-to-earnings ratio of -2.20 and a beta of 3.41.

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About Baytex Energy

Baytex Energy Corp. (Baytex) is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (Alberta and Saskatchewan) and in the United States (Texas). The Company’s crude oil and natural gas operations are organized into four business units: Lloydminster, Peace River, Conventional and United States.

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