Brokerages expect Laredo Petroleum Inc (NYSE:LPI) to post $201.54 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Laredo Petroleum’s earnings. The highest sales estimate is $238.05 million and the lowest is $178.00 million. Laredo Petroleum reported sales of $351.05 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 42.6%. The business is expected to report its next quarterly earnings report on Wednesday, August 7th.
On average, analysts expect that Laredo Petroleum will report full year sales of $775.50 million for the current year, with estimates ranging from $670.00 million to $912.18 million. For the next financial year, analysts anticipate that the company will post sales of $816.12 million, with estimates ranging from $690.77 million to $999.93 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last announced its earnings results on Wednesday, May 1st. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The firm had revenue of $208.95 million for the quarter, compared to the consensus estimate of $198.64 million. Laredo Petroleum had a return on equity of 17.30% and a net margin of 21.68%. The firm’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS.
Several brokerages have weighed in on LPI. Zacks Investment Research raised Laredo Petroleum from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research note on Thursday, May 9th. Robert W. Baird raised Laredo Petroleum from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $3.00 to $7.00 in a research note on Thursday, May 9th. Williams Capital reaffirmed a “hold” rating and set a $5.00 target price on shares of Laredo Petroleum in a research note on Wednesday, January 23rd. Societe Generale downgraded Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Finally, MKM Partners reaffirmed a “neutral” rating and set a $3.00 target price (down previously from $5.00) on shares of Laredo Petroleum in a research note on Friday, February 15th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $7.00.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Pearl River Capital LLC acquired a new position in shares of Laredo Petroleum during the fourth quarter worth $35,000. Pitcairn Co. purchased a new stake in Laredo Petroleum in the 4th quarter worth approximately $42,000. Cornerstone Investment Partners LLC purchased a new stake in Laredo Petroleum in the 1st quarter worth approximately $51,000. Shelton Capital Management purchased a new stake in Laredo Petroleum in the 4th quarter worth approximately $56,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Laredo Petroleum in the 1st quarter worth approximately $57,000.
Laredo Petroleum stock traded up $0.08 during mid-day trading on Wednesday, hitting $3.49. 3,233,799 shares of the company’s stock traded hands, compared to its average volume of 5,381,532. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $804.27 million, a P/E ratio of 3.75 and a beta of 1.45. Laredo Petroleum has a one year low of $2.80 and a one year high of $10.43.
Laredo Petroleum Company Profile
Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.
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