Equities analysts forecast that Gastar Exploration Inc (NYSE:GST) will report sales of $20.05 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Gastar Exploration’s earnings. The lowest sales estimate is $18.00 million and the highest is $21.09 million. Gastar Exploration reported sales of $13.00 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 54.2%. The firm is expected to report its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that Gastar Exploration will report full-year sales of $20.05 million for the current fiscal year, with estimates ranging from $71.80 million to $84.48 million. For the next financial year, analysts anticipate that the company will post sales of $92.43 million per share, with estimates ranging from $72.90 million to $110.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Gastar Exploration.
Gastar Exploration (NYSE:GST) last posted its quarterly earnings data on Thursday, August 3rd. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The business had revenue of $22.60 million for the quarter, compared to the consensus estimate of $18.78 million. Gastar Exploration’s revenue was up 85.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.12) earnings per share.
GST has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Gastar Exploration from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 18th. Williams Capital set a $1.00 price target on shares of Gastar Exploration and gave the stock a “hold” rating in a research report on Friday, August 4th. Finally, Imperial Capital initiated coverage on shares of Gastar Exploration in a research report on Tuesday, September 19th. They issued an “in-line” rating and a $1.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $1.40.
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Shares of Gastar Exploration (NYSE GST) traded down 3.11% during midday trading on Friday, hitting $0.70. 303,479 shares of the stock were exchanged. Gastar Exploration has a 12-month low of $0.38 and a 12-month high of $2.19. The stock’s 50 day moving average is $0.72 and its 200 day moving average is $0.96. The firm’s market cap is $139.68 million.
Several large investors have recently added to or reduced their stakes in the company. Ares Management LLC lifted its holdings in shares of Gastar Exploration by 92.8% during the 2nd quarter. Ares Management LLC now owns 56,712,088 shares of the company’s stock worth $52,515,000 after acquiring an additional 27,303,783 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Gastar Exploration by 23.4% during the 2nd quarter. Vanguard Group Inc. now owns 7,125,376 shares of the company’s stock worth $6,598,000 after acquiring an additional 1,351,505 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Gastar Exploration by 1.9% during the 2nd quarter. California Public Employees Retirement System now owns 2,653,900 shares of the company’s stock worth $2,458,000 after acquiring an additional 48,500 shares during the period. State Street Corp lifted its holdings in shares of Gastar Exploration by 1,952.7% during the 2nd quarter. State Street Corp now owns 2,327,220 shares of the company’s stock worth $2,154,000 after acquiring an additional 2,213,844 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Gastar Exploration by 715.6% during the 2nd quarter. Northern Trust Corp now owns 1,920,593 shares of the company’s stock worth $1,779,000 after acquiring an additional 1,685,101 shares during the period.
Gastar Exploration Company Profile
Gastar Exploration Inc, an independent energy company, engages in the exploration, development, and production of oil, condensate, natural gas, and natural gas liquids in the United States. Its principal activities include the identification, acquisition, exploration, and development of oil and natural gas properties on unconventional reserves, such as shale resource plays.
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