Evolution Petroleum Corporation, Inc. (NASDAQ:EPM) Expected to Announce Quarterly Sales of $3.47 Million

Equities analysts expect Evolution Petroleum Corporation, Inc. (NASDAQ:EPM) to report sales of $3.47 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Evolution Petroleum’s earnings. The highest sales estimate is $4.84 million and the lowest is $2.10 million. Evolution Petroleum posted sales of $10.37 million in the same quarter last year, which suggests a negative year over year growth rate of 66.5%. The business is expected to issue its next quarterly earnings report on Wednesday, September 9th.

According to Zacks, analysts expect that Evolution Petroleum will report full-year sales of $29.79 million for the current fiscal year, with estimates ranging from $28.40 million to $31.17 million. For the next year, analysts expect that the firm will post sales of $21.70 million, with estimates ranging from $20.70 million to $22.69 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Evolution Petroleum.

Evolution Petroleum (NASDAQ:EPM) last issued its earnings results on Wednesday, May 6th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $7.71 million for the quarter, compared to analysts’ expectations of $8.00 million.

Separately, Roth Capital lowered shares of Evolution Petroleum from a “buy” rating to a “neutral” rating in a research report on Friday, March 13th.

Evolution Petroleum stock opened at $2.78 on Wednesday. Evolution Petroleum has a 52 week low of $2.12 and a 52 week high of $7.37. The firm’s 50-day simple moving average is $2.71 and its 200 day simple moving average is $3.84.

About Evolution Petroleum

Evolution Petroleum Corporation, an independent oil and gas company, engages in the acquisition, exploitation, and development of properties for the production of crude oil and natural gas, onshore in the United States. The company's principal assets include interests in a CO2 enhanced oil recovery project and the natural gas liquids recovery plant in the Delhi field Louisiana.

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