Brokerages Expect Brigham Minerals, Inc. (NYSE:MNRL) Will Post Quarterly Sales of $49.39 Million

Equities research analysts predict that Brigham Minerals, Inc. (NYSE:MNRL) will post $49.39 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Brigham Minerals’ earnings, with the lowest sales estimate coming in at $48.30 million and the highest estimate coming in at $50.00 million. Brigham Minerals reported sales of $23.76 million in the same quarter last year, which indicates a positive year over year growth rate of 107.9%. The company is scheduled to issue its next quarterly earnings results on Wednesday, February 23rd.

On average, analysts expect that Brigham Minerals will report full-year sales of $162.73 million for the current year, with estimates ranging from $161.80 million to $163.39 million. For the next financial year, analysts forecast that the business will report sales of $203.05 million, with estimates ranging from $193.15 million to $221.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Brigham Minerals.

Brigham Minerals (NYSE:MNRL) last released its quarterly earnings results on Wednesday, November 3rd. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. The business had revenue of $41.96 million during the quarter, compared to the consensus estimate of $40.50 million. Brigham Minerals had a net margin of 0.29% and a return on equity of 5.94%. During the same quarter last year, the company earned $0.06 earnings per share.

A number of equities analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Brigham Minerals from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, October 13th. KeyCorp lifted their price objective on shares of Brigham Minerals from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday, November 16th. Raymond James lifted their price objective on shares of Brigham Minerals from $30.00 to $35.00 and gave the stock a “strong-buy” rating in a report on Thursday. Zacks Investment Research downgraded shares of Brigham Minerals from a “buy” rating to a “hold” rating in a report on Thursday, October 21st. Finally, Wells Fargo & Company downgraded shares of Brigham Minerals from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $22.00 to $19.00 in a report on Friday, September 3rd. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Brigham Minerals currently has a consensus rating of “Buy” and an average price target of $22.63.

Brigham Minerals stock traded down $0.22 during mid-day trading on Friday, reaching $20.12. The company’s stock had a trading volume of 649,187 shares, compared to its average volume of 229,629. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -182.89 and a beta of 2.32. The business has a 50 day moving average price of $21.86 and a 200-day moving average price of $20.26. The company has a current ratio of 5.34, a quick ratio of 5.34 and a debt-to-equity ratio of 0.08. Brigham Minerals has a twelve month low of $10.69 and a twelve month high of $25.49.

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 1st. Shareholders of record on Wednesday, November 24th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 7.95%. This is a boost from Brigham Minerals’s previous quarterly dividend of $0.35. The ex-dividend date was Tuesday, November 23rd. Brigham Minerals’s dividend payout ratio (DPR) is presently -1,454.41%.

In related news, Director W Howard Keenan, Jr. sold 16,553 shares of Brigham Minerals stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $22.10, for a total transaction of $365,821.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director W Howard Keenan, Jr. sold 45,419 shares of Brigham Minerals stock in a transaction dated Wednesday, November 24th. The stock was sold at an average price of $22.30, for a total value of $1,012,843.70. The disclosure for this sale can be found here. Insiders sold 92,224 shares of company stock worth $2,083,964 over the last quarter. 3.70% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Epoch Investment Partners Inc. purchased a new position in Brigham Minerals in the 3rd quarter worth about $13,194,000. FMR LLC increased its stake in Brigham Minerals by 11.6% in the 2nd quarter. FMR LLC now owns 5,907,487 shares of the company’s stock worth $125,770,000 after purchasing an additional 612,887 shares in the last quarter. Lakewood Capital Management LP purchased a new position in Brigham Minerals in the 2nd quarter worth about $5,887,000. Dimensional Fund Advisors LP increased its stake in Brigham Minerals by 875.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 214,132 shares of the company’s stock worth $4,103,000 after purchasing an additional 192,184 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Brigham Minerals by 10.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,909,318 shares of the company’s stock worth $36,583,000 after purchasing an additional 186,202 shares in the last quarter. 68.19% of the stock is currently owned by hedge funds and other institutional investors.

Brigham Minerals Company Profile

Brigham Minerals, Inc engages in the acquisition and managing a a portfolio of mineral and royalty interests. Its portfolio include basins in the United States, which comprises Permian Basin in Texas and New Mexico; the SCOOP and STACK plays in the Anadarko Basin of Oklahoma; the DJ Basin in Colorado; and Wyoming and the Williston Basin in North Dakota.

Recommended Story: Technical Analysis of Stocks and What It Means

Get a free copy of the Zacks research report on Brigham Minerals (MNRL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Brigham Minerals (NYSE:MNRL)

Receive News & Ratings for Brigham Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brigham Minerals and related companies with MarketBeat.com's FREE daily email newsletter.