Wall Street brokerages forecast that Centennial Resource Development Inc (NASDAQ:CDEV) will post earnings per share of $0.07 for the current quarter, Zacks reports. Eight analysts have issued estimates for Centennial Resource Development’s earnings, with estimates ranging from $0.00 to $0.24. Centennial Resource Development posted earnings of $0.25 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 72%. The firm is expected to report its next quarterly earnings report on Tuesday, May 14th.

According to Zacks, analysts expect that Centennial Resource Development will report full year earnings of $0.36 per share for the current fiscal year, with EPS estimates ranging from $0.12 to $1.12. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.74 per share, with EPS estimates ranging from $0.21 to $1.62. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Centennial Resource Development.

Centennial Resource Development (NASDAQ:CDEV) last announced its earnings results on Monday, February 25th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.03). Centennial Resource Development had a return on equity of 6.51% and a net margin of 22.43%. The business had revenue of $222.50 million for the quarter, compared to analyst estimates of $238.16 million. The firm’s revenue was up 34.0% on a year-over-year basis.

Several research analysts have recently weighed in on the stock. Johnson Rice cut shares of Centennial Resource Development from a “buy” rating to an “accumulate” rating in a research report on Friday. Guggenheim set a $20.00 price target on shares of Centennial Resource Development and gave the company a “buy” rating in a research report on Tuesday, February 26th. Credit Suisse Group set a $12.00 price target on shares of Centennial Resource Development and gave the company a “hold” rating in a research report on Tuesday, February 26th. Zacks Investment Research raised shares of Centennial Resource Development from a “sell” rating to a “hold” rating in a research report on Wednesday, February 6th. Finally, TD Securities lowered their price target on shares of Centennial Resource Development from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, February 27th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Centennial Resource Development has an average rating of “Hold” and a consensus target price of $19.29.

Shares of CDEV stock traded up $0.07 on Monday, hitting $8.78. 2,755,151 shares of the stock traded hands, compared to its average volume of 3,625,561. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.43 and a beta of 1.84. Centennial Resource Development has a twelve month low of $8.28 and a twelve month high of $23.12.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC raised its holdings in Centennial Resource Development by 27.0% in the 3rd quarter. FMR LLC now owns 39,567,873 shares of the oil and natural gas company’s stock valued at $864,558,000 after buying an additional 8,410,700 shares during the period. Vanguard Group Inc. raised its holdings in Centennial Resource Development by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 15,754,084 shares of the oil and natural gas company’s stock valued at $344,226,000 after buying an additional 370,395 shares during the period. Vanguard Group Inc raised its holdings in Centennial Resource Development by 2.4% in the 3rd quarter. Vanguard Group Inc now owns 15,754,084 shares of the oil and natural gas company’s stock valued at $344,226,000 after buying an additional 370,395 shares during the period. BlackRock Inc. raised its holdings in Centennial Resource Development by 7.2% in the 4th quarter. BlackRock Inc. now owns 8,453,179 shares of the oil and natural gas company’s stock valued at $93,155,000 after buying an additional 568,155 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Centennial Resource Development by 18.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,560,405 shares of the oil and natural gas company’s stock valued at $39,235,000 after buying an additional 542,778 shares during the period.

Centennial Resource Development Company Profile

Centennial Resource Development, Inc, an independent oil and natural gas company, focuses on the development of unconventional oil and associated liquids-rich natural gas reserves in the United States. The company's assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks primarily in Reeves County in West Texas and Lea County in New Mexico.

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Earnings History and Estimates for Centennial Resource Development (NASDAQ:CDEV)

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