Zacks: Brokerages Expect Ring Energy, Inc. (NASDAQ:REI) Will Announce Earnings of $0.11 Per Share
Analysts expect Ring Energy, Inc. (NASDAQ:REI) to post earnings of $0.11 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Ring Energy’s earnings, with estimates ranging from $0.08 to $0.14. Ring Energy posted earnings per share of $0.14 during the same quarter last year, which indicates a negative year over year growth rate of 21.4%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 5th.
According to Zacks, analysts expect that Ring Energy will report full-year earnings of $0.58 per share for the current fiscal year, with EPS estimates ranging from $0.54 to $0.64. For the next fiscal year, analysts forecast that the business will post earnings of $0.57 per share, with EPS estimates ranging from $0.33 to $0.74. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that cover Ring Energy.
Ring Energy (NASDAQ:REI) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The firm had revenue of $51.33 million during the quarter, compared to analysts’ expectations of $49.66 million.
About Ring Energy
Ring Energy, Inc acquires, explores for, develops, and produces oil and natural gas in Texas and Kansas, the United States. As of December 31, 2016, its proved reserves consisted of approximately 27.7 million barrel of oil equivalent. The company also owns interests in 32,663 net developed and undeveloped acres in Andrews and Gaines counties, and 20,490 net developed and undeveloped acres in Reeves and Culberson counties, Texas; and 14,549 net developed and undeveloped acres in Kansas.
Further Reading: What are the Benefits of Index Funds?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ring Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ring Energy and related companies with MarketBeat.com's FREE daily email newsletter.