Eclipse Resources Corp (ECR) Expected to Post Quarterly Sales of $107.59 Million

Wall Street brokerages forecast that Eclipse Resources Corp (NYSE:ECR) will announce $107.59 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Eclipse Resources’ earnings, with the highest sales estimate coming in at $114.40 million and the lowest estimate coming in at $101.76 million. Eclipse Resources reported sales of $91.55 million during the same quarter last year, which would suggest a positive year over year growth rate of 17.5%. The business is scheduled to announce its next quarterly earnings results on Wednesday, November 14th.

On average, analysts expect that Eclipse Resources will report full year sales of $442.21 million for the current year, with estimates ranging from $423.64 million to $458.70 million. For the next year, analysts expect that the firm will post sales of $545.04 million per share, with estimates ranging from $497.70 million to $619.31 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Eclipse Resources.

Eclipse Resources (NYSE:ECR) last posted its quarterly earnings results on Thursday, August 2nd. The energy producer reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.04. The business had revenue of $103.62 million for the quarter, compared to analyst estimates of $97.53 million. Eclipse Resources had a negative net margin of 12.57% and a positive return on equity of 0.53%.

Several analysts recently issued reports on ECR shares. KLR Group reiterated a “buy” rating and set a $2.00 price target on shares of Eclipse Resources in a research report on Monday, August 20th. Zacks Investment Research lowered shares of Eclipse Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Stifel Nicolaus restated a “hold” rating and issued a $1.50 target price on shares of Eclipse Resources in a research report on Friday, June 1st. Finally, ValuEngine upgraded shares of Eclipse Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $2.42.

NYSE ECR opened at $1.49 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.86. The company has a market cap of $507.91 million, a P/E ratio of -42.00 and a beta of 2.89. Eclipse Resources has a 1 year low of $1.23 and a 1 year high of $2.79.

Institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. raised its stake in shares of Eclipse Resources by 28.4% during the first quarter. Russell Investments Group Ltd. now owns 3,239,301 shares of the energy producer’s stock valued at $4,665,000 after acquiring an additional 716,264 shares during the last quarter. JBF Capital Inc. bought a new position in shares of Eclipse Resources during the first quarter valued at $882,000. Rubric Capital Management LP raised its stake in shares of Eclipse Resources by 18.5% during the first quarter. Rubric Capital Management LP now owns 3,199,478 shares of the energy producer’s stock valued at $4,607,000 after acquiring an additional 499,478 shares during the last quarter. BlackRock Inc. raised its stake in shares of Eclipse Resources by 4.6% during the second quarter. BlackRock Inc. now owns 6,964,346 shares of the energy producer’s stock valued at $11,143,000 after acquiring an additional 307,358 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Eclipse Resources by 552.0% during the first quarter. Millennium Management LLC now owns 200,718 shares of the energy producer’s stock valued at $289,000 after acquiring an additional 169,932 shares during the last quarter. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Eclipse Resources Company Profile

Eclipse Resources Corporation, an independent exploration and production company, acquires and develops oil and natural gas properties in the Appalachian Basin. The company holds interests in the Utica Shale and Marcellus Shale areas. As of December 31, 2017, it had an acreage position approximately covering an area of 203,000 net acres in Eastern Ohio.

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