$51.92 Million in Sales Expected for Ring Energy, Inc. (NASDAQ:REI) This Quarter

Equities analysts predict that Ring Energy, Inc. (NASDAQ:REI) will announce $51.92 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Ring Energy’s earnings, with estimates ranging from $49.18 million to $55.00 million. Ring Energy posted sales of $29.93 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 73.5%. The firm is expected to report its next quarterly earnings report on Wednesday, August 14th.

On average, analysts expect that Ring Energy will report full year sales of $206.63 million for the current financial year, with estimates ranging from $193.63 million to $216.52 million. For the next year, analysts expect that the business will report sales of $258.97 million, with estimates ranging from $229.00 million to $299.77 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Ring Energy.

Ring Energy (NASDAQ:REI) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.15. The company had revenue of $41.80 million during the quarter, compared to analysts’ expectations of $26.53 million.

Separately, BidaskClub cut Zebra Technologies from a “hold” rating to a “sell” rating in a research note on Friday, May 24th.

REI traded down $0.15 during trading on Thursday, reaching $3.13. The company had a trading volume of 984,200 shares, compared to its average volume of 646,260. The company has a 50-day moving average of $3.41. Ring Energy has a 12-month low of $3.09 and a 12-month high of $13.39.

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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