Analysts Anticipate Penn Virginia (PVAC) Will Post Quarterly Sales of $66.95 Million

Equities analysts expect that Penn Virginia (NASDAQ:PVAC) will post $66.95 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Penn Virginia’s earnings. The highest sales estimate is $70.90 million and the lowest is $63.00 million. Penn Virginia reported sales of $35.39 million during the same quarter last year, which indicates a positive year-over-year growth rate of 89.2%. The firm is scheduled to issue its next earnings report on Tuesday, May 8th.

On average, analysts expect that Penn Virginia will report full-year sales of $66.95 million for the current financial year, with estimates ranging from $373.00 million to $377.10 million. For the next fiscal year, analysts expect that the firm will report sales of $520.20 million per share, with estimates ranging from $484.40 million to $556.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Penn Virginia.

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Penn Virginia (NASDAQ:PVAC) last released its quarterly earnings data on Thursday, March 1st. The company reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.17. Penn Virginia had a net margin of 20.56% and a return on equity of 20.39%. The firm had revenue of $54.33 million for the quarter, compared to the consensus estimate of $55.95 million.

Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Penn Virginia from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 9th. BidaskClub cut shares of Penn Virginia from a “sell” rating to a “strong sell” rating in a research report on Friday, February 16th. SunTrust Banks set a $55.00 price objective on shares of Penn Virginia and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Finally, Northland Securities set a $63.00 price objective on shares of Penn Virginia and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $56.67.

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in Penn Virginia during the third quarter worth about $181,000. Alliancebernstein L.P. bought a new stake in Penn Virginia during the fourth quarter worth about $233,000. MetLife Investment Advisors LLC bought a new stake in Penn Virginia during the fourth quarter worth about $321,000. Highbridge Capital Management LLC bought a new stake in Penn Virginia during the third quarter worth about $414,000. Finally, Allianz Asset Management GmbH bought a new stake in Penn Virginia during the third quarter worth about $424,000. 89.12% of the stock is owned by institutional investors and hedge funds.

PVAC stock opened at $34.75 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.70 and a current ratio of 0.70. Penn Virginia has a 52 week low of $31.00 and a 52 week high of $50.00. The stock has a market capitalization of $523.27, a P/E ratio of 11.28 and a beta of 1.45.

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Penn Virginia Company Profile

Penn Virginia Corporation, an independent oil and gas company, engages in the onshore exploration, development, and production of crude oil, natural gas liquids, and natural gas in the United States. It primarily operates wells in the Eagle Ford Shale field in South Texas. The company also has operations in the Granite Wash in Oklahoma.

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