Brokerages Expect Alta Mesa Resources Inc (NASDAQ:AMR) Will Announce Earnings of -$0.01 Per Share
Analysts expect that Alta Mesa Resources Inc (NASDAQ:AMR) will report earnings of ($0.01) per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Alta Mesa Resources’ earnings. Alta Mesa Resources reported earnings per share of ($0.04) in the same quarter last year, which indicates a positive year over year growth rate of 75%. The company is expected to announce its next earnings report on Tuesday, August 13th.
According to Zacks, analysts expect that Alta Mesa Resources will report full-year earnings of ($0.04) per share for the current year, with EPS estimates ranging from ($0.05) to ($0.02). For the next fiscal year, analysts forecast that the firm will report earnings of ($0.04) per share, with EPS estimates ranging from ($0.06) to ($0.01). Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Alta Mesa Resources.
A number of equities research analysts recently issued reports on the stock. ValuEngine upgraded shares of Alta Mesa Resources from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded shares of Alta Mesa Resources from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $6.69.
A number of large investors have recently modified their holdings of AMR. Citigroup Inc. boosted its holdings in Alta Mesa Resources by 1,359.7% in the fourth quarter. Citigroup Inc. now owns 27,501 shares of the company’s stock worth $27,000 after purchasing an additional 25,617 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Alta Mesa Resources during the 4th quarter worth $38,000. GSA Capital Partners LLP acquired a new position in Alta Mesa Resources during the 2nd quarter worth $49,000. Jane Street Group LLC acquired a new position in Alta Mesa Resources during the 4th quarter worth $59,000. Finally, D. E. Shaw & Co. Inc. acquired a new position in Alta Mesa Resources during the 4th quarter worth $60,000. Hedge funds and other institutional investors own 48.91% of the company’s stock.
About Alta Mesa Resources
Alta Mesa Resources, Inc focuses on the acquisition and development of unconventional oil and natural gas reserves in the Anadarko Basin. It also offers midstream energy services, including crude oil and gas gathering, processing, and marketing to producers of natural gas, natural gas liquids, crude oil, and condensate in the STACK Play region of Oklahoma.
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