Equities analysts expect that Petrox Resources Corp (NASDAQ:PTC) will report $0.31 earnings per share (EPS) for the current quarter, Zacks reports. Six analysts have issued estimates for Petrox Resources Corp’s earnings. The lowest EPS estimate is $0.29 and the highest is $0.39. Petrox Resources Corp posted earnings of $0.26 per share during the same quarter last year, which would indicate a positive year over year growth rate of 19.2%. The firm is expected to issue its next earnings report on Wednesday, January 17th.

According to Zacks, analysts expect that Petrox Resources Corp will report full-year earnings of $1.38 per share for the current year, with EPS estimates ranging from $1.28 to $1.65. For the next year, analysts anticipate that the business will post earnings of $1.93 per share, with EPS estimates ranging from $1.64 to $2.06. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Petrox Resources Corp.

Petrox Resources Corp (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, October 25th. The company reported C$0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.36 by C($0.02). The company had revenue of C$306.38 million during the quarter, compared to the consensus estimate of C$306.59 million. Petrox Resources Corp had a net margin of 5.69% and a return on equity of 8.13%. Petrox Resources Corp’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 EPS.

Several research analysts have issued reports on PTC shares. Evercore ISI set a $75.00 price target on Petrox Resources Corp and gave the company a “buy” rating in a report on Thursday, October 26th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $65.00 price target on shares of Petrox Resources Corp in a report on Monday, September 4th. Berenberg Bank started coverage on Petrox Resources Corp in a report on Wednesday, August 23rd. They issued a “buy” rating and a $66.00 price target on the stock. Robert W. Baird set a $65.00 price target on Petrox Resources Corp and gave the company a “buy” rating in a report on Friday, October 6th. Finally, Barclays PLC upped their price target on Petrox Resources Corp from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of C$65.59.

In other news, Director Paul A. Lacy sold 4,000 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of C$65.81, for a total transaction of C$263,240.00. Following the transaction, the director now directly owns 61,486 shares in the company, valued at approximately C$4,046,393.66. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert Schechter sold 1,128 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of C$66.88, for a total transaction of C$75,440.64. Following the transaction, the director now owns 64,826 shares in the company, valued at C$4,335,562.88. The disclosure for this sale can be found here.

Several institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas grew its holdings in shares of Petrox Resources Corp by 0.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 9,250 shares of the company’s stock valued at $510,000 after acquiring an additional 54 shares in the last quarter. Advisor Group Inc. grew its holdings in shares of Petrox Resources Corp by 7.4% during the 2nd quarter. Advisor Group Inc. now owns 2,711 shares of the company’s stock valued at $150,000 after acquiring an additional 186 shares in the last quarter. Utah Retirement Systems grew its holdings in shares of Petrox Resources Corp by 1.0% during the 2nd quarter. Utah Retirement Systems now owns 21,000 shares of the company’s stock valued at $1,158,000 after acquiring an additional 200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Petrox Resources Corp by 6.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,092 shares of the company’s stock valued at $226,000 after acquiring an additional 247 shares in the last quarter. Finally, Campbell Newman Asset Management Inc. grew its holdings in shares of Petrox Resources Corp by 4.8% during the 2nd quarter. Campbell Newman Asset Management Inc. now owns 5,860 shares of the company’s stock valued at $323,000 after acquiring an additional 267 shares in the last quarter.

Petrox Resources Corp (PTC) opened at C$64.79 on Monday. Petrox Resources Corp has a twelve month low of C$45.57 and a twelve month high of C$67.12.

Petrox Resources Corp announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 19th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 7.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

ILLEGAL ACTIVITY WARNING: “Zacks: Brokerages Anticipate Petrox Resources Corp (PTC) Will Announce Earnings of $0.31 Per Share” was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another domain, it was stolen and reposted in violation of US & international copyright and trademark law. The legal version of this story can be read at https://www.thecerbatgem.com/2017/11/13/zacks-brokerages-anticipate-petrox-resources-corp-ptc-will-announce-earnings-of-0-31-per-share.html.

About Petrox Resources Corp

PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.

Get a free copy of the Zacks research report on Petrox Resources Corp (PTC)

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

Receive News & Stock Ratings for Petrox Resources Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Petrox Resources Corp and related stocks with our FREE daily email newsletter.