Zacks: Analysts Anticipate Eclipse Resources Corp (ECR) Will Announce Quarterly Sales of $140.27 Million

Equities research analysts expect Eclipse Resources Corp (NYSE:ECR) to report $140.27 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Eclipse Resources’ earnings. The lowest sales estimate is $131.92 million and the highest is $150.40 million. Eclipse Resources posted sales of $104.06 million during the same quarter last year, which suggests a positive year over year growth rate of 34.8%. The firm is expected to report its next earnings results on Wednesday, February 27th.

On average, analysts expect that Eclipse Resources will report full-year sales of $481.61 million for the current fiscal year, with estimates ranging from $468.13 million to $494.30 million. For the next fiscal year, analysts forecast that the company will report sales of $679.31 million, with estimates ranging from $676.61 million to $682.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Eclipse Resources.

ECR has been the subject of a number of analyst reports. Zacks Investment Research raised Eclipse Resources from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a research report on Tuesday, October 23rd. Capital One Financial cut Eclipse Resources from an “overweight” rating to an “underweight” rating in a report on Thursday, December 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $1.68.

Shares of NYSE:ECR traded down $0.03 during midday trading on Tuesday, hitting $1.08. The stock had a trading volume of 417,417 shares, compared to its average volume of 896,472. Eclipse Resources has a 12 month low of $0.74 and a 12 month high of $1.96. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $335.82 million, a PE ratio of -27.00 and a beta of 2.05.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Eclipse Resources by 1.5% in the 4th quarter. BlackRock Inc. now owns 7,090,761 shares of the energy producer’s stock worth $7,446,000 after purchasing an additional 102,311 shares during the period. Vanguard Group Inc increased its stake in Eclipse Resources by 3.0% in the 3rd quarter. Vanguard Group Inc now owns 6,421,250 shares of the energy producer’s stock worth $7,641,000 after purchasing an additional 185,194 shares during the period. Vanguard Group Inc. increased its stake in Eclipse Resources by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 6,421,250 shares of the energy producer’s stock worth $7,641,000 after purchasing an additional 185,194 shares during the period. Russell Investments Group Ltd. increased its stake in Eclipse Resources by 40.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,846,312 shares of the energy producer’s stock worth $4,577,000 after purchasing an additional 1,101,503 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Eclipse Resources by 3.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,849,501 shares of the energy producer’s stock worth $4,559,000 after purchasing an additional 100,287 shares during the period. 78.99% of the stock is currently owned by institutional investors and hedge funds.

About Eclipse Resources

Eclipse Resources Corporation, an independent exploration and production company, acquires and develops oil and natural gas properties in the Appalachian Basin. The company holds interests in the Utica Shale and Marcellus Shale areas. As of December 31, 2017, it had an acreage position approximately covering an area of 203,000 net acres in Eastern Ohio.

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