Zacks: Brokerages Anticipate Laredo Petroleum, Inc. (NYSE:LPI) to Announce $0.11 Earnings Per Share
Brokerages expect Laredo Petroleum, Inc. (NYSE:LPI) to announce earnings of $0.11 per share for the current quarter, according to Zacks. Nine analysts have provided estimates for Laredo Petroleum’s earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.16. Laredo Petroleum reported earnings of $0.13 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 15.4%. The company is scheduled to announce its next quarterly earnings results after the market closes on Monday, August 7th.
According to Zacks, analysts expect that Laredo Petroleum will report full year earnings of $0.47 per share for the current year, with EPS estimates ranging from $0.32 to $0.58. For the next fiscal year, analysts expect that the firm will post earnings of $0.60 per share, with EPS estimates ranging from $0.27 to $1.59. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $189 million for the quarter, compared to the consensus estimate of $164.39 million. Laredo Petroleum had a negative net margin of 1.78% and a positive return on equity of 75.64%. The firm’s revenue for the quarter was up 77.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 EPS.
Several research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday. Cowen and Company set a $12.00 target price on shares of Laredo Petroleum and gave the stock a “hold” rating in a report on Tuesday, July 18th. Bank of America Corporation assumed coverage on shares of Laredo Petroleum in a report on Wednesday, July 19th. They set an “underperform” rating and a $11.00 target price for the company. Stifel Nicolaus restated a “buy” rating and set a $17.00 target price on shares of Laredo Petroleum in a report on Friday, July 14th. Finally, BidaskClub upgraded shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $14.63.
Laredo Petroleum (NYSE LPI) traded down 5.11% on Thursday, hitting $11.70. 5,609,260 shares of the stock were exchanged. The stock’s market capitalization is $2.84 billion. The company has a 50 day moving average of $11.23 and a 200 day moving average of $12.79. Laredo Petroleum has a one year low of $9.57 and a one year high of $16.47.
Institutional investors have recently added to or reduced their stakes in the company. Two Sigma Securities LLC acquired a new position in Laredo Petroleum during the first quarter worth approximately $514,000. Norges Bank acquired a new position in Laredo Petroleum during the fourth quarter worth approximately $25,204,000. Glen Harbor Capital Management LLC acquired a new position in Laredo Petroleum during the first quarter worth approximately $122,000. IBM Retirement Fund raised its position in Laredo Petroleum by 313.5% in the first quarter. IBM Retirement Fund now owns 48,048 shares of the oil and gas producer’s stock worth $702,000 after buying an additional 36,429 shares in the last quarter. Finally, FIL Ltd acquired a new position in Laredo Petroleum during the first quarter worth approximately $1,527,000.
About Laredo Petroleum
Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.
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