$38.46 Million in Sales Expected for Earthstone Energy, Inc. (ESTE) This Quarter

Brokerages forecast that Earthstone Energy, Inc. (NYSE:ESTE) will report $38.46 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Earthstone Energy’s earnings, with the highest sales estimate coming in at $42.10 million and the lowest estimate coming in at $35.60 million. Earthstone Energy reported sales of $15.34 million in the same quarter last year, which would suggest a positive year over year growth rate of 150.7%. The business is expected to issue its next quarterly earnings report on Monday, May 14th.

According to Zacks, analysts expect that Earthstone Energy will report full-year sales of $38.46 million for the current year, with estimates ranging from $167.40 million to $195.40 million. For the next financial year, analysts anticipate that the firm will post sales of $257.87 million per share, with estimates ranging from $245.94 million to $276.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Earthstone Energy.

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Earthstone Energy (NYSE:ESTE) last posted its quarterly earnings results on Wednesday, March 14th. The oil and gas producer reported $0.39 EPS for the quarter, beating the consensus estimate of $0.08 by $0.31. Earthstone Energy had a negative net margin of 11.58% and a positive return on equity of 5.77%. The business had revenue of $35.68 million during the quarter, compared to analyst estimates of $33.12 million.

Several research firms have recently commented on ESTE. Imperial Capital set a $14.00 price target on shares of Earthstone Energy and gave the company a “buy” rating in a report on Thursday. Robert W. Baird set a $17.00 price objective on shares of Earthstone Energy and gave the stock a “buy” rating in a research note on Thursday, March 15th. KLR Group assumed coverage on shares of Earthstone Energy in a research note on Thursday, February 8th. They set a “buy” rating and a $17.00 price objective for the company. SunTrust Banks reiterated a “buy” rating and set a $14.00 price objective on shares of Earthstone Energy in a research note on Tuesday, February 6th. Finally, ValuEngine lowered shares of Earthstone Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Earthstone Energy currently has an average rating of “Buy” and a consensus target price of $14.22.

Several hedge funds have recently added to or reduced their stakes in ESTE. Northern Trust Corp lifted its stake in shares of Earthstone Energy by 232.1% in the 2nd quarter. Northern Trust Corp now owns 109,208 shares of the oil and gas producer’s stock valued at $1,093,000 after purchasing an additional 76,326 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Earthstone Energy by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 35,607 shares of the oil and gas producer’s stock valued at $356,000 after purchasing an additional 2,787 shares during the period. State Street Corp lifted its stake in shares of Earthstone Energy by 62.0% in the 2nd quarter. State Street Corp now owns 61,391 shares of the oil and gas producer’s stock valued at $614,000 after purchasing an additional 23,506 shares during the period. California State Teachers Retirement System lifted its stake in shares of Earthstone Energy by 295.2% in the 2nd quarter. California State Teachers Retirement System now owns 17,537 shares of the oil and gas producer’s stock valued at $176,000 after purchasing an additional 13,100 shares during the period. Finally, Rhumbline Advisers acquired a new position in shares of Earthstone Energy in the 3rd quarter valued at $135,000. 18.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:ESTE traded down $0.33 during trading hours on Friday, hitting $9.35. The company’s stock had a trading volume of 115,204 shares, compared to its average volume of 153,982. Earthstone Energy has a 52 week low of $7.85 and a 52 week high of $15.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $601.26, a P/E ratio of 6.54 and a beta of 1.08.

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About Earthstone Energy

Earthstone Energy, Inc, an oil and natural gas development and production company, operates in the up-stream segment of the oil and natural gas industry in the United States. Its asset portfolio includes the Midland Basin of west Texas and the Eagle Ford trend of south Texas. As of December 31, 2017, the company operated 91 gross Eagle Ford wells; and 12 gross Austin Chalk wells, as well as had 79,976 thousand barrels of oil equivalent (MBOE) of total proved reserves, 19,961 MBOE of proved developed reserves, and 60,015 MBOE of proved undeveloped reserves.

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Earnings History and Estimates for Earthstone Energy (NYSE:ESTE)

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