Alta Mesa Resources Inc (AMR) Expected to Announce Earnings of $0.05 Per Share

Analysts predict that Alta Mesa Resources Inc (NASDAQ:AMR) will report earnings of $0.05 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Alta Mesa Resources’ earnings. The highest EPS estimate is $0.05 and the lowest is $0.04. The company is expected to issue its next earnings report on Monday, November 12th.

On average, analysts expect that Alta Mesa Resources will report full-year earnings of $0.12 per share for the current financial year, with EPS estimates ranging from $0.08 to $0.16. For the next financial year, analysts anticipate that the firm will report earnings of $0.75 per share, with EPS estimates ranging from $0.65 to $0.84. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Alta Mesa Resources.

Alta Mesa Resources (NASDAQ:AMR) last announced its earnings results on Tuesday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.14). The business had revenue of $93.14 million for the quarter, compared to the consensus estimate of $131.93 million. The firm’s revenue was up 16.7% on a year-over-year basis.

A number of research firms have recently weighed in on AMR. Guggenheim began coverage on shares of Alta Mesa Resources in a research report on Monday, July 30th. They issued a “buy” rating and a $10.00 price objective for the company. Zacks Investment Research raised shares of Alta Mesa Resources from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a research report on Friday, July 20th. Stifel Nicolaus cut their price objective on shares of Alta Mesa Resources from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, August 22nd. ValuEngine raised shares of Alta Mesa Resources from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. Finally, Imperial Capital lowered shares of Alta Mesa Resources from an “outperform” rating to an “in-line” rating and cut their price objective for the company from $11.00 to $8.00 in a research report on Wednesday, August 15th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $8.89.

In other news, Director Bayou City Energy Management L acquired 422,000 shares of the business’s stock in a transaction dated Thursday, August 30th. The stock was acquired at an average price of $4.89 per share, with a total value of $2,063,580.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders bought 4,133,911 shares of company stock valued at $18,294,607. Company insiders own 0.21% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in AMR. Northern Trust Corp purchased a new stake in Alta Mesa Resources in the first quarter valued at approximately $1,723,000. BlackRock Inc. purchased a new stake in Alta Mesa Resources in the first quarter valued at approximately $25,818,000. Barclays PLC purchased a new stake in Alta Mesa Resources in the first quarter valued at approximately $257,000. Cubist Systematic Strategies LLC purchased a new stake in Alta Mesa Resources in the first quarter valued at approximately $105,000. Finally, Deprince Race & Zollo Inc. grew its holdings in Alta Mesa Resources by 32.5% in the second quarter. Deprince Race & Zollo Inc. now owns 83,500 shares of the company’s stock valued at $569,000 after purchasing an additional 20,500 shares during the period. Hedge funds and other institutional investors own 53.52% of the company’s stock.

AMR traded down $0.09 during midday trading on Friday, reaching $3.23. 40,149 shares of the company’s stock were exchanged, compared to its average volume of 1,453,843. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 0.94. Alta Mesa Resources has a 1-year low of $2.80 and a 1-year high of $10.79.

Alta Mesa Resources declared that its board has authorized a share repurchase plan on Tuesday, August 14th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Alta Mesa Resources Company Profile

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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Earnings History and Estimates for Alta Mesa Resources (NASDAQ:AMR)

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