Analysts Expect Laredo Petroleum Inc (LPI) Will Announce Earnings of $0.25 Per Share

Wall Street brokerages predict that Laredo Petroleum Inc (NYSE:LPI) will announce $0.25 earnings per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Laredo Petroleum’s earnings, with estimates ranging from $0.21 to $0.31. Laredo Petroleum reported earnings of $0.10 per share in the same quarter last year, which indicates a positive year over year growth rate of 150%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, May 2nd.

According to Zacks, analysts expect that Laredo Petroleum will report full year earnings of $1.06 per share for the current year, with EPS estimates ranging from $0.87 to $1.45. For the next year, analysts expect that the company will report earnings of $1.21 per share, with EPS estimates ranging from $0.92 to $1.95. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Laredo Petroleum.

Laredo Petroleum (NYSE:LPI) last posted its earnings results on Wednesday, February 14th. The oil and gas producer reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. Laredo Petroleum had a net margin of 66.77% and a return on equity of 30.02%. The firm had revenue of $240.34 million during the quarter, compared to analyst estimates of $212.57 million. During the same period in the previous year, the business posted $0.16 EPS. Laredo Petroleum’s revenue was up 30.4% on a year-over-year basis.



Several research firms have weighed in on LPI. Piper Jaffray reiterated a “buy” rating and issued a $16.00 price objective on shares of Laredo Petroleum in a research note on Tuesday, January 9th. Zacks Investment Research upgraded shares of Laredo Petroleum from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Wednesday, January 24th. National Securities initiated coverage on shares of Laredo Petroleum in a research note on Tuesday, January 16th. They set a “buy” rating for the company. Stifel Nicolaus set a $15.00 target price on shares of Laredo Petroleum and gave the company a “buy” rating in a research note on Monday, January 29th. Finally, Robert W. Baird set a $12.00 target price on shares of Laredo Petroleum and gave the company a “buy” rating in a research note on Monday, April 2nd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $12.56.

A number of hedge funds have recently made changes to their positions in LPI. HRT Financial LLC bought a new position in shares of Laredo Petroleum during the 4th quarter worth approximately $117,000. State of Alaska Department of Revenue bought a new position in shares of Laredo Petroleum during the 4th quarter worth approximately $123,000. Elkfork Partners LLC bought a new position in shares of Laredo Petroleum during the 4th quarter worth approximately $131,000. Virtu Financial LLC bought a new position in shares of Laredo Petroleum during the 4th quarter worth approximately $154,000. Finally, Sciencast Management LP bought a new position in shares of Laredo Petroleum during the 4th quarter worth approximately $165,000.

Shares of NYSE LPI traded up $0.12 during midday trading on Friday, reaching $10.87. The company’s stock had a trading volume of 1,708,897 shares, compared to its average volume of 3,268,587. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.85 and a quick ratio of 0.85. Laredo Petroleum has a one year low of $7.41 and a one year high of $13.46. The company has a market capitalization of $2,536.91, a P/E ratio of 18.02, a PEG ratio of 1.97 and a beta of 1.22.

Laredo Petroleum announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 14th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the oil and gas producer to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Laredo Petroleum Company Profile

Laredo Petroleum, Inc operates as an independent energy company in the United States. It operates through two segments, Exploration and Production; and Midstream and Marketing. The company engages in the acquisition, exploration, and development of oil and natural gas properties; and the transportation of oil and natural gas primarily in the Permian Basin in West Texas, as well as rig fuel, natural gas lift, and water delivery and takeaway services.

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Earnings History and Estimates for Laredo Petroleum (NYSE:LPI)

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