Equities research analysts predict that WildHorse Resource Development Co. (NYSE:WRD) will announce $197.49 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for WildHorse Resource Development’s earnings. The lowest sales estimate is $189.30 million and the highest is $212.91 million. WildHorse Resource Development reported sales of $70.17 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 181.4%. The company is expected to announce its next quarterly earnings report on Wednesday, August 8th.
According to Zacks, analysts expect that WildHorse Resource Development will report full year sales of $816.83 million for the current financial year, with estimates ranging from $756.60 million to $867.98 million. For the next financial year, analysts forecast that the business will post sales of $1.01 billion per share, with estimates ranging from $927.00 million to $1.09 billion. Zacks’ sales averages are an average based on a survey of research firms that cover WildHorse Resource Development.
Get WildHorse Resource Development alerts:
WildHorse Resource Development (NYSE:WRD) last released its quarterly earnings results on Wednesday, May 9th. The oil and natural gas company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.11. WildHorse Resource Development had a positive return on equity of 8.35% and a negative net margin of 14.56%. The firm had revenue of $218.80 million during the quarter, compared to the consensus estimate of $183.24 million. During the same quarter in the prior year, the firm posted $0.22 EPS. The business’s revenue was up 303.0% on a year-over-year basis.
A number of equities research analysts have recently issued reports on the company. Bank of America upped their price objective on WildHorse Resource Development from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Imperial Capital upped their price objective on WildHorse Resource Development from $24.00 to $31.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. Zacks Investment Research upgraded WildHorse Resource Development from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective on the stock in a research note on Saturday, April 28th. Citigroup dropped their price objective on WildHorse Resource Development from $23.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 13th. Finally, Johnson Rice assumed coverage on WildHorse Resource Development in a research note on Wednesday, March 21st. They set a “buy” rating and a $27.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $23.80.
Several institutional investors have recently made changes to their positions in WRD. Russell Investments Group Ltd. bought a new stake in shares of WildHorse Resource Development during the 1st quarter worth approximately $126,000. Point72 Asia Hong Kong Ltd bought a new stake in WildHorse Resource Development in the 1st quarter valued at $184,000. Paloma Partners Management Co bought a new stake in WildHorse Resource Development in the 4th quarter valued at $215,000. Virtu Financial LLC bought a new stake in WildHorse Resource Development in the 4th quarter valued at $220,000. Finally, Engineers Gate Manager LP bought a new stake in WildHorse Resource Development in the 1st quarter valued at $220,000.
WildHorse Resource Development traded up $0.47, reaching $26.94, during trading hours on Monday, MarketBeat.com reports. 1,971,096 shares of the stock were exchanged, compared to its average volume of 1,273,199. WildHorse Resource Development has a twelve month low of $10.36 and a twelve month high of $29.67. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.77. The company has a market cap of $2.68 billion, a P/E ratio of 62.65, a price-to-earnings-growth ratio of 0.31 and a beta of -0.62.
WildHorse Resource Development Company Profile
WildHorse Resource Development Corporation, an independent oil and natural gas company, focuses on the acquisition, exploitation, development, and production of oil, natural gas, and natural gas liquid resources. The company primarily holds interests in the Eagle Ford Shale in East Texas and the overpressured Cotton Valley formation in North Louisiana.
Get a free copy of the Zacks research report on WildHorse Resource Development (WRD)
For more information about research offerings from Zacks Investment Research, visit Zacks.com