Brokerages Anticipate RGC Resources Inc. (RGCO) Will Post Quarterly Sales of $10.40 Million

Analysts expect that RGC Resources Inc. (NASDAQ:RGCO) will announce sales of $10.40 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for RGC Resources’ earnings, with the lowest sales estimate coming in at $10.00 million and the highest estimate coming in at $10.80 million. RGC Resources reported sales of $10.17 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.3%. The business is expected to report its next quarterly earnings report on Wednesday, November 21st.

On average, analysts expect that RGC Resources will report full year sales of $65.70 million for the current financial year, with estimates ranging from $65.00 million to $66.40 million. For the next year, analysts expect that the business will report sales of $67.95 million, with estimates ranging from $67.90 million to $68.00 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for RGC Resources.

RGC Resources (NASDAQ:RGCO) last released its earnings results on Friday, August 3rd. The energy company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.04. The company had revenue of $11.89 million for the quarter, compared to analyst estimates of $12.25 million. RGC Resources had a return on equity of 9.31% and a net margin of 10.30%.

Separately, Zacks Investment Research raised RGC Resources from a “sell” rating to a “hold” rating in a report on Wednesday, July 11th.

RGCO opened at $25.92 on Tuesday. The firm has a market cap of $213.33 million, a PE ratio of 30.14 and a beta of -0.11. RGC Resources has a 52-week low of $22.16 and a 52-week high of $31.57. The company has a current ratio of 0.54, a quick ratio of 0.29 and a debt-to-equity ratio of 0.72.

The business also recently announced a dividend, which will be paid on Thursday, November 1st. Stockholders of record on Monday, October 15th will be issued a dividend of $0.155 per share. The ex-dividend date is Friday, October 12th. RGC Resources’s dividend payout ratio (DPR) is currently 72.09%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RGCO. Rhumbline Advisers acquired a new stake in shares of RGC Resources during the 2nd quarter worth $206,000. Bank of America Corp DE grew its holdings in shares of RGC Resources by 59.6% during the 2nd quarter. Bank of America Corp DE now owns 7,095 shares of the energy company’s stock worth $207,000 after purchasing an additional 2,650 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of RGC Resources during the 2nd quarter worth $212,000. First Trust Advisors LP acquired a new stake in shares of RGC Resources during the 2nd quarter worth $227,000. Finally, LPL Financial LLC acquired a new stake in shares of RGC Resources during the 1st quarter worth $249,000.

RGC Resources Company Profile

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. The company sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. It also provides various unregulated services. The company operates approximately 1,135 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility located in Botetourt County, as well as owns and operates 8 metering stations.

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