Equities research analysts expect Alta Mesa Resources Inc (NASDAQ:AMR) to report $140.98 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Alta Mesa Resources’ earnings. The highest sales estimate is $159.95 million and the lowest is $122.00 million. The company is scheduled to announce its next quarterly earnings results on Monday, November 12th.
On average, analysts expect that Alta Mesa Resources will report full-year sales of $535.67 million for the current year, with estimates ranging from $488.00 million to $583.34 million. For the next financial year, analysts forecast that the company will post sales of $938.19 million, with estimates ranging from $807.00 million to $1.07 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Alta Mesa Resources.
Alta Mesa Resources (NASDAQ:AMR) last posted its quarterly earnings results on Tuesday, August 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.14). The business had revenue of $93.14 million for the quarter, compared to the consensus estimate of $131.93 million. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year.
Several equities research analysts have commented on AMR shares. Guggenheim started coverage on shares of Alta Mesa Resources in a report on Monday, July 30th. They issued a “buy” rating and a $10.00 price target on the stock. Stifel Nicolaus lowered their price target on shares of Alta Mesa Resources from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, August 22nd. Goldman Sachs Group started coverage on shares of Alta Mesa Resources in a report on Tuesday, July 10th. They issued a “buy” rating and a $8.25 price target on the stock. Zacks Investment Research raised shares of Alta Mesa Resources from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Finally, ValuEngine raised shares of Alta Mesa Resources from a “sell” rating to a “hold” rating in a report on Monday, August 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $8.89.
In other Alta Mesa Resources news, Director Bayou City Energy Management L acquired 3,400,800 shares of the business’s stock in a transaction on Tuesday, August 21st. The stock was bought at an average price of $4.34 per share, for a total transaction of $14,759,472.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders acquired 4,133,911 shares of company stock valued at $18,294,607. 0.21% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN purchased a new stake in shares of Alta Mesa Resources in the 1st quarter valued at approximately $11,013,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Alta Mesa Resources in the 1st quarter valued at approximately $2,399,000. Northern Trust Corp purchased a new stake in shares of Alta Mesa Resources in the 1st quarter valued at approximately $1,723,000. BlackRock Inc. purchased a new stake in shares of Alta Mesa Resources in the 1st quarter valued at approximately $25,818,000. Finally, Citigroup Inc. purchased a new stake in shares of Alta Mesa Resources in the 1st quarter valued at approximately $161,000. Institutional investors own 53.35% of the company’s stock.
NASDAQ:AMR opened at $3.75 on Friday. Alta Mesa Resources has a one year low of $3.65 and a one year high of $10.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 0.94.
Alta Mesa Resources announced that its board has approved a share buyback plan on Tuesday, August 14th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
About Alta Mesa Resources
Alta Mesa Resources, Inc focuses on the acquisition and development of unconventional oil and natural gas reserves in the Anadarko Basin. It also offers midstream energy services, including crude oil and gas gathering, processing, and marketing to producers of natural gas, natural gas liquids, crude oil, and condensate in the STACK Play region of Oklahoma.
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