Ring Energy, Inc. (REI) Expected to Post Earnings of $0.05 Per Share

Brokerages expect that Ring Energy, Inc. (NASDAQ:REI) will report earnings of $0.05 per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Ring Energy’s earnings, with the highest EPS estimate coming in at $0.12 and the lowest estimate coming in at $0.00. Ring Energy posted earnings per share of $0.11 in the same quarter last year, which suggests a negative year-over-year growth rate of 54.5%. The company is scheduled to report its next earnings results on Tuesday, May 14th.

According to Zacks, analysts expect that Ring Energy will report full year earnings of $0.29 per share for the current year, with EPS estimates ranging from $0.07 to $0.55. For the next year, analysts expect that the firm will report earnings of $0.55 per share, with EPS estimates ranging from $0.39 to $0.71. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Ring Energy.

Ring Energy (NASDAQ:REI) last issued its quarterly earnings data on Tuesday, February 26th. The company reported $0.07 earnings per share (EPS) for the quarter. The business had revenue of $27.56 million during the quarter, compared to analyst estimates of $28.70 million.

REI has been the subject of several research analyst reports. BidaskClub upgraded Ring Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Capital One Financial lowered Ring Energy from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th.

Shares of REI traded down $0.08 on Monday, hitting $5.37. The company’s stock had a trading volume of 800,900 shares, compared to its average volume of 551,693. Ring Energy has a fifty-two week low of $4.01 and a fifty-two week high of $17.35.

Ring Energy Company Profile

Ring Energy, Inc acquires, explores for, develops, and produces oil and natural gas in Texas and Kansas, the United States. As of December 31, 2016, its proved reserves consisted of approximately 27.7 million barrel of oil equivalent. The company also owns interests in 32,663 net developed and undeveloped acres in Andrews and Gaines counties, and 20,490 net developed and undeveloped acres in Reeves and Culberson counties, Texas; and 14,549 net developed and undeveloped acres in Kansas.

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