Analysts Expect Goodrich Petroleum Corporation (NASDAQ:GDP) Will Announce Quarterly Sales of $34.78 Million

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Wall Street brokerages expect Goodrich Petroleum Corporation (NASDAQ:GDP) to announce $34.78 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Goodrich Petroleum’s earnings, with the lowest sales estimate coming in at $31.80 million and the highest estimate coming in at $36.00 million. Goodrich Petroleum reported sales of $17.84 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 95%. The business is expected to report its next earnings report before the market opens on Tuesday, August 6th.

According to Zacks, analysts expect that Goodrich Petroleum will report full-year sales of $147.81 million for the current fiscal year, with estimates ranging from $142.70 million to $156.00 million. For the next fiscal year, analysts forecast that the company will post sales of $191.34 million, with estimates ranging from $178.65 million to $223.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Goodrich Petroleum.

Goodrich Petroleum (NASDAQ:GDP) last posted its earnings results on Wednesday, May 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.18). The business had revenue of $29.14 million for the quarter, compared to analyst estimates of $29.10 million.

Separately, B. Riley restated a “buy” rating on shares of Goodrich Petroleum in a research report on Monday, May 20th.

NASDAQ GDP traded down $0.01 on Friday, hitting $11.29. The stock had a trading volume of 8,781 shares, compared to its average volume of 21,608. Goodrich Petroleum has a 52-week low of $10.67 and a 52-week high of $15.50. The business has a 50-day moving average of $11.66.

About Goodrich Petroleum

Goodrich Petroleum Corporation, an independent oil and natural gas company, engages in the exploration, development, and production of oil and natural gas. It primarily holds interests in the Haynesville Shale Trend in northwest Louisiana and East Texas; Tuscaloosa Marine Shale Trend located in southwest Mississippi and southeast Louisiana; and the Eagle Ford Shale Trend situated in South Texas.

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