Imperial Capital Weighs in on Approach Resources Inc.’s FY2018 Earnings (NASDAQ:AREX)
Approach Resources Inc. (NASDAQ:AREX) – Stock analysts at Imperial Capital upped their FY2018 earnings per share (EPS) estimates for Approach Resources in a research report issued on Monday, November 12th, according to Zacks Investment Research. Imperial Capital analyst I. Haas now expects that the energy company will post earnings of ($0.24) per share for the year, up from their previous estimate of ($0.32). Imperial Capital also issued estimates for Approach Resources’ Q4 2018 earnings at ($0.05) EPS, Q1 2019 earnings at ($0.04) EPS, Q2 2019 earnings at ($0.05) EPS, Q3 2019 earnings at ($0.04) EPS, Q4 2019 earnings at ($0.01) EPS and FY2019 earnings at ($0.14) EPS.
Approach Resources (NASDAQ:AREX) last announced its quarterly earnings data on Thursday, November 8th. The energy company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. Approach Resources had a net margin of 20.85% and a negative return on equity of 4.04%. The company had revenue of $32.56 million during the quarter, compared to analysts’ expectations of $30.07 million.
Shares of NASDAQ AREX remained flat at $$1.23 during trading on Wednesday. 162,964 shares of the stock traded hands, compared to its average volume of 250,207. Approach Resources has a one year low of $1.21 and a one year high of $4.21. The stock has a market cap of $116.24 million, a PE ratio of -3.42 and a beta of 2.79. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.35 and a quick ratio of 0.35.
Institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP boosted its position in Approach Resources by 83.1% during the 2nd quarter. GSA Capital Partners LLP now owns 200,306 shares of the energy company’s stock worth $489,000 after purchasing an additional 90,900 shares during the period. Bank of New York Mellon Corp boosted its position in Approach Resources by 49.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 265,861 shares of the energy company’s stock valued at $649,000 after buying an additional 88,295 shares during the last quarter. Bridgeway Capital Management Inc. boosted its position in Approach Resources by 4.4% in the 3rd quarter. Bridgeway Capital Management Inc. now owns 1,008,400 shares of the energy company’s stock valued at $2,249,000 after buying an additional 42,600 shares during the last quarter. Finally, BlackRock Inc. boosted its position in Approach Resources by 11.5% in the 2nd quarter. BlackRock Inc. now owns 3,504,971 shares of the energy company’s stock valued at $8,551,000 after buying an additional 361,169 shares during the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.
Approach Resources Company Profile
Approach Resources, Inc, an independent energy company, focuses on the acquisition, exploration, development, and production of unconventional oil and gas reserves in the United States. The company's properties are primarily located in the Permian Basin in west Texas. It also owns interests in east Texas Basin.
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