Lilis Energy Inc (NASDAQ:LLEX) Expected to Announce Quarterly Sales of $8.65 Million

Equities research analysts predict that Lilis Energy Inc (NASDAQ:LLEX) will report sales of $8.65 million for the current quarter, according to Zacks. Two analysts have made estimates for Lilis Energy’s earnings, with the highest sales estimate coming in at $10.30 million and the lowest estimate coming in at $7.00 million. Lilis Energy reported sales of $990,000.00 during the same quarter last year, which would suggest a positive year-over-year growth rate of 773.7%. The firm is expected to announce its next earnings report on Thursday, August 24th.

On average, analysts expect that Lilis Energy will report full year sales of $8.65 million for the current year, with estimates ranging from $36.70 million to $44.70 million. For the next financial year, analysts expect that the business will post sales of $91.15 million per share, with estimates ranging from $77.00 million to $105.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Lilis Energy.

LLEX has been the subject of a number of research analyst reports. Northland Securities cut shares of Lilis Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 3rd. Zacks Investment Research cut shares of Lilis Energy from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Johnson Rice initiated coverage on shares of Lilis Energy in a report on Tuesday, April 18th. They issued a “buy” rating for the company. Finally, Seaport Global Securities initiated coverage on shares of Lilis Energy in a report on Tuesday, May 23rd. They issued a “buy” rating and a $8.50 target price for the company.

Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers acquired a new position in shares of Lilis Energy during the second quarter worth $219,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Lilis Energy during the second quarter worth $352,000. Bank of New York Mellon Corp acquired a new position in shares of Lilis Energy during the second quarter worth $503,000. Finally, Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Lilis Energy during the second quarter worth $3,384,000.

Lilis Energy (LLEX) opened at 3.69 on Tuesday. The company’s market capitalization is $186.05 million. Lilis Energy has a 52 week low of $1.10 and a 52 week high of $5.69. The company’s 50-day moving average price is $4.81 and its 200-day moving average price is $4.42.

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About Lilis Energy

Lilis Energy, Inc is an upstream independent oil and gas company. The Company is engaged in the acquisition, drilling and production of oil and natural gas properties and prospects. The Company drills for, operates and produces oil and natural gas wells through its land holdings located in Wyoming, Colorado, and Nebraska.

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