Analysts expect that Laredo Petroleum Inc (NYSE:LPI) will report $0.25 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Laredo Petroleum’s earnings, with the lowest EPS estimate coming in at $0.17 and the highest estimate coming in at $0.35. Laredo Petroleum reported earnings of $0.19 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 31.6%. The firm is expected to announce its next quarterly earnings results on Wednesday, February 13th.
According to Zacks, analysts expect that Laredo Petroleum will report full year earnings of $0.99 per share for the current fiscal year, with EPS estimates ranging from $0.88 to $1.07. For the next financial year, analysts forecast that the business will report earnings of $0.54 per share, with EPS estimates ranging from $0.24 to $1.17. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last announced its earnings results on Monday, November 5th. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.03). Laredo Petroleum had a return on equity of 24.30% and a net margin of 51.61%. The business had revenue of $279.70 million for the quarter, compared to analysts’ expectations of $276.95 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The firm’s revenue was up 35.9% compared to the same quarter last year.
A number of brokerages have recently issued reports on LPI. Piper Jaffray Companies lowered Laredo Petroleum from an “overweight” rating to a “neutral” rating in a research report on Wednesday. Robert W. Baird lowered their target price on shares of Laredo Petroleum from $10.00 to $3.00 and set a “neutral” rating for the company in a report on Friday, January 4th. Zacks Investment Research downgraded shares of Laredo Petroleum from a “hold” rating to a “sell” rating in a report on Tuesday, December 25th. Capital One Financial downgraded shares of Laredo Petroleum from an “overweight” rating to an “underweight” rating in a report on Thursday, December 20th. Finally, Credit Suisse Group downgraded shares of Laredo Petroleum from a “neutral” rating to an “underperform” rating in a report on Wednesday, December 19th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $9.80.
Institutional investors and hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale grew its position in shares of Laredo Petroleum by 354.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 12,279 shares of the oil and gas producer’s stock worth $102,000 after buying an additional 9,579 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in Laredo Petroleum during the third quarter valued at about $117,000. First Hawaiian Bank bought a new stake in Laredo Petroleum during the third quarter valued at about $120,000. Schneider Capital Management Corp bought a new stake in Laredo Petroleum during the third quarter valued at about $123,000. Finally, Riverhead Capital Management LLC bought a new stake in Laredo Petroleum during the third quarter valued at about $150,000.
Shares of NYSE LPI traded down $0.17 during midday trading on Friday, reaching $4.01. 4,801,987 shares of the company’s stock were exchanged, compared to its average volume of 4,603,677. Laredo Petroleum has a 52-week low of $3.00 and a 52-week high of $11.68. The firm has a market cap of $979.97 million, a price-to-earnings ratio of 6.68 and a beta of 1.61. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.73 and a current ratio of 0.73.
About Laredo Petroleum
Laredo Petroleum, Inc operates as an independent energy company in the United States. It operates through two segments, Exploration and Production; and Midstream and Marketing. The company engages in the acquisition, exploration, and development of oil and natural gas properties; and the transportation of oil and natural gas primarily in the Permian Basin in West Texas, as well as rig fuel, natural gas lift, and water delivery and takeaway services.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Laredo Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laredo Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.