Zacks: Brokerages Expect Laredo Petroleum Inc (LPI) Will Post Earnings of $0.25 Per Share
Equities research analysts expect Laredo Petroleum Inc (NYSE:LPI) to report $0.25 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Laredo Petroleum’s earnings. The highest EPS estimate is $0.31 and the lowest is $0.22. Laredo Petroleum posted earnings of $0.10 per share during the same quarter last year, which would indicate a positive year over year growth rate of 150%. The firm is scheduled to issue its next earnings results on Wednesday, May 2nd.
On average, analysts expect that Laredo Petroleum will report full year earnings of $1.03 per share for the current year, with EPS estimates ranging from $0.74 to $1.45. For the next financial year, analysts anticipate that the business will report earnings of $1.18 per share, with EPS estimates ranging from $0.91 to $1.77. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings results on Wednesday, February 14th. The oil and gas producer reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $240.34 million during the quarter, compared to the consensus estimate of $212.57 million. Laredo Petroleum had a net margin of 66.77% and a return on equity of 30.02%. The firm’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 earnings per share.
Several hedge funds have recently added to or reduced their stakes in the business. Ashburton Jersey Ltd increased its position in shares of Laredo Petroleum by 46.7% in the fourth quarter. Ashburton Jersey Ltd now owns 190,660 shares of the oil and gas producer’s stock valued at $2,023,000 after acquiring an additional 60,700 shares during the period. Jane Street Group LLC increased its position in shares of Laredo Petroleum by 436.2% in the fourth quarter. Jane Street Group LLC now owns 68,915 shares of the oil and gas producer’s stock valued at $731,000 after acquiring an additional 89,415 shares during the period. Sciencast Management LP purchased a new position in shares of Laredo Petroleum in the fourth quarter valued at about $165,000. Elkfork Partners LLC purchased a new position in shares of Laredo Petroleum in the fourth quarter valued at about $131,000. Finally, HBK Investments L P increased its position in shares of Laredo Petroleum by 340.6% in the fourth quarter. HBK Investments L P now owns 277,200 shares of the oil and gas producer’s stock valued at $2,941,000 after acquiring an additional 214,288 shares during the period.
Shares of Laredo Petroleum (NYSE:LPI) opened at $8.61 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $2,088.23, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. Laredo Petroleum has a one year low of $7.41 and a one year high of $15.15.
Laredo Petroleum declared that its board has initiated a share repurchase plan on Wednesday, February 14th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the oil and gas producer to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
About Laredo Petroleum
Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.
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