Analysts Expect Laredo Petroleum Inc (LPI) to Announce $0.25 EPS

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.

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Earnings History and Estimates for Laredo Petroleum (NYSE:LPI)

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