Zacks: Brokerages Expect Earthstone Energy Inc (ESTE) Will Announce Earnings of $0.09 Per Share

Wall Street brokerages predict that Earthstone Energy Inc (NYSE:ESTE) will post earnings per share of $0.09 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Earthstone Energy’s earnings. The highest EPS estimate is $0.16 and the lowest is $0.03. Earthstone Energy reported earnings of ($0.21) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 142.9%. The firm is scheduled to report its next quarterly earnings results on Wednesday, March 21st.

On average, analysts expect that Earthstone Energy will report full year earnings of ($0.55) per share for the current fiscal year. For the next financial year, analysts forecast that the company will report earnings of $0.50 per share, with EPS estimates ranging from $0.25 to $0.89. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Earthstone Energy.

Earthstone Energy (NYSE:ESTE) last announced its quarterly earnings data on Thursday, November 2nd. The oil and gas producer reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.05. Earthstone Energy had a positive return on equity of 4.01% and a negative net margin of 54.69%.

ESTE has been the topic of a number of analyst reports. Roth Capital set a $16.00 price objective on Earthstone Energy and gave the stock a “buy” rating in a research report on Monday, October 30th. Robert W. Baird set a $14.00 price objective on Earthstone Energy and gave the stock a “buy” rating in a research report on Friday, October 20th. SunTrust Banks set a $15.00 price objective on Earthstone Energy and gave the stock a “buy” rating in a research report on Friday, October 20th. Zacks Investment Research upgraded Earthstone Energy from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Tuesday, October 17th. Finally, Northland Securities reiterated a “buy” rating and set a $18.00 price objective on shares of Earthstone Energy in a research report on Tuesday, September 26th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Earthstone Energy currently has a consensus rating of “Buy” and a consensus target price of $14.10.

Earthstone Energy (ESTE) opened at $11.25 on Friday. Earthstone Energy has a 1 year low of $7.85 and a 1 year high of $15.50. The company has a market capitalization of $707.40, a P/E ratio of -5.28 and a beta of 1.38. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.59 and a current ratio of 0.59.

A number of hedge funds have recently bought and sold shares of the business. Wasatch Advisors Inc. increased its stake in Earthstone Energy by 6.8% during the fourth quarter. Wasatch Advisors Inc. now owns 898,260 shares of the oil and gas producer’s stock worth $9,549,000 after acquiring an additional 56,849 shares during the last quarter. California State Teachers Retirement System increased its stake in Earthstone Energy by 79.8% during the third quarter. California State Teachers Retirement System now owns 31,537 shares of the oil and gas producer’s stock worth $347,000 after acquiring an additional 14,000 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Earthstone Energy by 147.3% during the third quarter. Dimensional Fund Advisors LP now owns 88,052 shares of the oil and gas producer’s stock worth $968,000 after acquiring an additional 52,445 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Earthstone Energy by 108.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 38,800 shares of the oil and gas producer’s stock worth $427,000 after acquiring an additional 20,200 shares during the last quarter. Finally, American International Group Inc. increased its stake in Earthstone Energy by 109.0% during the third quarter. American International Group Inc. now owns 12,796 shares of the oil and gas producer’s stock worth $141,000 after acquiring an additional 6,673 shares during the last quarter. 13.41% of the stock is owned by institutional investors.

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Earthstone Energy Company Profile

Earthstone Energy, Inc is an independent oil and natural gas development and production company. The Company is also engaged in corporate mergers and the acquisition of oil and natural gas properties that have production and future development opportunities. Its operations are all in the upstream segment of the oil and natural gas industry and all its properties are onshore in the United States.

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