Wall Street brokerages forecast that Equal Energy Ltd. (NYSE:ENT) will announce sales of $158.91 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Equal Energy’s earnings. The highest sales estimate is $160.33 million and the lowest is $158.01 million. Equal Energy reported sales of $113.82 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 39.6%. The business is expected to issue its next quarterly earnings report on Monday, June 19th.
On average, analysts expect that Equal Energy will report full year sales of $158.91 million for the current fiscal year, with estimates ranging from $634.80 million to $654.10 million. For the next year, analysts expect that the company will report sales of $685.47 million per share, with estimates ranging from $641.00 million to $722.66 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Equal Energy.
Several equities analysts have commented on ENT shares. Citigroup Inc. restated a “neutral” rating and issued a $3.00 price target (down previously from $5.00) on shares of Equal Energy in a research note on Sunday, May 14th. Dougherty & Co downgraded shares of Equal Energy from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 22nd. Guggenheim downgraded shares of Equal Energy from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 21st. Finally, Piper Jaffray Companies downgraded shares of Equal Energy from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $6.00 in a research note on Tuesday, February 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.79.
Shares of Equal Energy (NYSE ENT) traded up 5.38% during midday trading on Friday, hitting $3.33. 454,761 shares of the stock traded hands. The stock has a 50 day moving average of $3.03 and a 200 day moving average of $4.58. Equal Energy has a 1-year low of $2.61 and a 1-year high of $9.73. The company’s market capitalization is $284.08 million.
Several large investors have recently added to or reduced their stakes in ENT. Kirr Marbach & Co. LLC IN boosted its stake in Equal Energy by 1.2% in the first quarter. Kirr Marbach & Co. LLC IN now owns 35,500 shares of the oil and gas exploration company’s stock valued at $113,000 after buying an additional 425 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in Equal Energy by 0.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 38,489 shares of the oil and gas exploration company’s stock valued at $249,000 after buying an additional 153 shares during the period. Phoenix Investment Adviser LLC purchased a new stake in Equal Energy during the first quarter valued at about $128,000. First Mercantile Trust Co. boosted its stake in Equal Energy by 8.7% in the first quarter. First Mercantile Trust Co. now owns 57,743 shares of the oil and gas exploration company’s stock valued at $184,000 after buying an additional 4,599 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Equal Energy by 256.3% in the first quarter. Goldman Sachs Group Inc. now owns 75,582 shares of the oil and gas exploration company’s stock valued at $241,000 after buying an additional 54,367 shares during the period.
Equal Energy Company Profile
Equal Energy Ltd. (Equal) is an exploration and production of oil and gas company. Equal’s oil and gas properties are located in Oklahoma. Equal Energy has an indirect, wholly-owned subsidiary, EEUSHI. EEUSHI holds all of Equal’s Oklahoma oil and gas properties and associated assets through its wholly owned subsidiary, Equal Energy US Inc The Company also reviews new drilling opportunities and potential acquisitions in Oklahoma to supplement its exploration and development activities.
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