$57.53 Million in Sales Expected for Rex Energy Corporation (REXX) This Quarter
Equities analysts forecast that Rex Energy Corporation (NASDAQ:REXX) will post $57.53 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Rex Energy’s earnings, with estimates ranging from $54.50 million to $60.20 million. Rex Energy posted sales of $48.03 million during the same quarter last year, which would indicate a positive year over year growth rate of 19.8%. The company is expected to report its next quarterly earnings report on Tuesday, March 6th.
According to Zacks, analysts expect that Rex Energy will report full year sales of $57.53 million for the current year, with estimates ranging from $199.80 million to $207.70 million. For the next fiscal year, analysts anticipate that the business will post sales of $283.52 million per share, with estimates ranging from $262.78 million to $299.20 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Rex Energy.
Rex Energy (NASDAQ:REXX) last posted its earnings results on Tuesday, November 14th. The oil and gas exploration company reported ($1.00) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.18) by $0.18. The firm had revenue of $48.00 million for the quarter, compared to analysts’ expectations of $46.64 million. Rex Energy had a negative net margin of 61.80% and a negative return on equity of 140.84%. The company’s revenue was up 41.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.14) earnings per share.
A number of research firms have weighed in on REXX. Royal Bank Of Canada cut shares of Rex Energy from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $4.00 to $3.00 in a research note on Tuesday, October 3rd. Zacks Investment Research cut shares of Rex Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Northland Securities set a $4.00 price objective on shares of Rex Energy and gave the stock a “hold” rating in a research note on Monday, August 21st. Finally, KeyCorp reissued a “hold” rating on shares of Rex Energy in a research note on Monday, November 13th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and an average price target of $5.12.
Shares of Rex Energy (REXX) opened at $1.83 on Monday. Rex Energy has a one year low of $1.70 and a one year high of $9.80. The company has a debt-to-equity ratio of -18.86, a quick ratio of 0.33 and a current ratio of 0.36.
A hedge fund recently bought a new stake in Rex Energy stock. Spark Investment Management LLC bought a new stake in Rex Energy Corporation (NASDAQ:REXX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 67,185 shares of the oil and gas exploration company’s stock, valued at approximately $194,000. Spark Investment Management LLC owned 0.70% of Rex Energy as of its most recent SEC filing. Institutional investors and hedge funds own 12.82% of the company’s stock.
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About Rex Energy
Rex Energy Corporation is an independent oil, natural gas liquid (NGL) and natural gas company. The Company has operations in the Appalachian Basin and Illinois Basin. In the Appalachian Basin, the Company is focused on its Marcellus Shale, Utica Shale and Upper Devonian (Burkett) Shale drilling and exploration activities.
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