Wall Street brokerages forecast that Laredo Petroleum Inc (NYSE:LPI) will report earnings per share of $0.21 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Laredo Petroleum’s earnings. The highest EPS estimate is $0.27 and the lowest is $0.10. Laredo Petroleum posted earnings per share of $0.16 in the same quarter last year, which would indicate a positive year over year growth rate of 31.3%. The company is scheduled to report its next quarterly earnings report on Wednesday, February 12th.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.
According to Zacks, analysts expect that Laredo Petroleum will report full-year earnings of $0.77 per share for the current financial year, with EPS estimates ranging from $0.68 to $0.81. For the next financial year, analysts forecast that the business will post earnings of $0.87 per share, with EPS estimates ranging from $0.56 to $1.50. Zacks’ EPS calculations are an average based on a survey of research firms that follow Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last posted its earnings results on Tuesday, November 5th. The oil and gas producer reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. Laredo Petroleum had a return on equity of 13.81% and a net margin of 5.87%. The company had revenue of $193.57 million for the quarter, compared to analyst estimates of $215.83 million. During the same quarter last year, the company earned $0.27 earnings per share.
A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Williams Capital set a $4.50 target price on Laredo Petroleum and gave the company a “buy” rating in a report on Tuesday, October 15th. ValuEngine lowered Laredo Petroleum from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. upgraded Laredo Petroleum from an “underweight” rating to a “neutral” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $4.55.
In related news, major shareholder Warburg Pincus Llc sold 69,874 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $2.76, for a total transaction of $192,852.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in LPI. King Luther Capital Management Corp purchased a new stake in Laredo Petroleum in the second quarter worth $29,000. LPL Financial LLC purchased a new stake in Laredo Petroleum in the second quarter worth $33,000. Birch Hill Investment Advisors LLC purchased a new stake in Laredo Petroleum in the second quarter worth $56,000. Brookstone Capital Management purchased a new stake in Laredo Petroleum in the third quarter worth $62,000. Finally, SG Americas Securities LLC purchased a new stake in Laredo Petroleum in the third quarter worth $67,000. 94.72% of the stock is owned by institutional investors and hedge funds.
Shares of LPI stock traded up $0.02 during trading hours on Tuesday, reaching $2.60. The company had a trading volume of 4,458,172 shares, compared to its average volume of 5,503,079. Laredo Petroleum has a 12 month low of $2.03 and a 12 month high of $5.84. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.13 and a quick ratio of 1.13. The business has a fifty day simple moving average of $2.38 and a 200-day simple moving average of $2.75. The company has a market cap of $612.67 million, a price-to-earnings ratio of 2.80 and a beta of 1.62.
About Laredo Petroleum
Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.
Read More: How to calculate compound interest
For more information about research offerings from Zacks Investment Research, visit Zacks.com