$123.19 Million in Sales Expected for Alta Mesa Resources Inc (NASDAQ:AMR) This Quarter
Analysts expect that Alta Mesa Resources Inc (NASDAQ:AMR) will post $123.19 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Alta Mesa Resources’ earnings, with the highest sales estimate coming in at $146.38 million and the lowest estimate coming in at $100.00 million. Alta Mesa Resources reported sales of $122.42 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.6%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, August 13th.
On average, analysts expect that Alta Mesa Resources will report full-year sales of $475.17 million for the current financial year, with estimates ranging from $388.00 million to $562.35 million. For the next fiscal year, analysts expect that the company will post sales of $426.29 million, with estimates ranging from $394.00 million to $458.57 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Alta Mesa Resources.
AMR has been the topic of several research analyst reports. Zacks Investment Research raised Alta Mesa Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. ValuEngine raised Alta Mesa Resources from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $6.69.
Shares of NASDAQ AMR traded down $0.01 during midday trading on Thursday, hitting $0.13. 1,330,706 shares of the company’s stock were exchanged, compared to its average volume of 3,335,369. Alta Mesa Resources has a twelve month low of $0.11 and a twelve month high of $4.97. The firm’s fifty day simple moving average is $0.15 and its 200-day simple moving average is $0.30.
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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