Zacks: Analysts Anticipate PDC Energy Inc (NASDAQ:PDCE) to Post $0.45 Earnings Per Share

Brokerages predict that PDC Energy Inc (NASDAQ:PDCE) will report $0.45 earnings per share for the current quarter, Zacks reports. Nine analysts have issued estimates for PDC Energy’s earnings, with the highest EPS estimate coming in at $0.74 and the lowest estimate coming in at $0.23. PDC Energy reported earnings per share of $0.48 in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.2%. The firm is scheduled to announce its next earnings report on Monday, November 4th.

On average, analysts expect that PDC Energy will report full-year earnings of $1.61 per share for the current financial year, with EPS estimates ranging from $1.14 to $2.13. For the next year, analysts forecast that the company will post earnings of $2.97 per share, with EPS estimates ranging from $1.66 to $3.66. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow PDC Energy.

PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings results on Wednesday, August 7th. The energy producer reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.11). The firm had revenue of $390.70 million during the quarter, compared to analysts’ expectations of $333.78 million. PDC Energy had a net margin of 7.73% and a negative return on equity of 3.08%. The company’s quarterly revenue was up 83.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 EPS.

PDCE has been the subject of a number of recent research reports. Credit Suisse Group upgraded PDC Energy from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $36.00 to $39.00 in a research report on Tuesday, August 27th. Mitsubishi UFJ Financial Group lifted their price objective on PDC Energy to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Barclays initiated coverage on PDC Energy in a research report on Friday, August 30th. They set an “overweight” rating and a $42.00 price objective for the company. Bank of America upgraded PDC Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $42.00 to $50.00 in a research report on Tuesday. Finally, ValuEngine upgraded PDC Energy from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $49.65.

PDC Energy stock traded up $1.20 during midday trading on Friday, reaching $32.68. 1,575,400 shares of the company were exchanged, compared to its average volume of 1,273,285. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of -11.04, a P/E/G ratio of 0.88 and a beta of 1.01. The firm’s 50-day simple moving average is $28.69 and its 200-day simple moving average is $35.17. PDC Energy has a 1 year low of $24.13 and a 1 year high of $53.50. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.65 and a current ratio of 0.65.

A number of institutional investors have recently added to or reduced their stakes in PDCE. Geode Capital Management LLC lifted its position in PDC Energy by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 736,641 shares of the energy producer’s stock worth $21,921,000 after acquiring an additional 48,261 shares in the last quarter. Strs Ohio lifted its position in PDC Energy by 125.0% during the 1st quarter. Strs Ohio now owns 3,600 shares of the energy producer’s stock worth $146,000 after acquiring an additional 2,000 shares in the last quarter. SG Americas Securities LLC acquired a new position in PDC Energy during the 1st quarter worth approximately $825,000. Quantamental Technologies LLC acquired a new position in PDC Energy during the 1st quarter worth approximately $63,000. Finally, Janney Montgomery Scott LLC acquired a new position in PDC Energy during the 1st quarter worth approximately $916,000.

PDC Energy Company Profile

PDC Energy, Inc, an independent exploration and production company, acquires, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in the United States. Its operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc in June 2012.

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Earnings History and Estimates for PDC Energy (NASDAQ:PDCE)

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