Zacks: Brokerages Anticipate Ring Energy, Inc. (NASDAQ:REI) Will Announce Earnings of $0.16 Per Share

Brokerages expect that Ring Energy, Inc. (NASDAQ:REI) will post earnings per share (EPS) of $0.16 for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Ring Energy’s earnings. The lowest EPS estimate is $0.11 and the highest is $0.20. Ring Energy reported earnings per share of $0.09 in the same quarter last year, which indicates a positive year-over-year growth rate of 77.8%. The company is expected to issue its next earnings report on Wednesday, August 14th.

On average, analysts expect that Ring Energy will report full-year earnings of $0.72 per share for the current fiscal year, with EPS estimates ranging from $0.64 to $0.77. For the next fiscal year, analysts forecast that the firm will report earnings of $0.93 per share, with EPS estimates ranging from $0.68 to $1.16. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Ring Energy.

Ring Energy (NASDAQ:REI) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.15. The business had revenue of $41.80 million during the quarter, compared to the consensus estimate of $26.53 million.

Separately, BidaskClub lowered shares of Zebra Technologies from a “hold” rating to a “sell” rating in a research report on Friday, May 24th.

Shares of NASDAQ REI traded up $0.01 during midday trading on Tuesday, hitting $3.28. The company’s stock had a trading volume of 736,473 shares, compared to its average volume of 641,670. The company’s fifty day simple moving average is $3.45. Ring Energy has a one year low of $3.15 and a one year high of $13.75.

Ring Energy Company Profile

Ring Energy, Inc acquires, explores for, develops, and produces oil and natural gas in Texas and Kansas, the United States. As of December 31, 2016, its proved reserves consisted of approximately 27.7 million barrel of oil equivalent. The company also owns interests in 32,663 net developed and undeveloped acres in Andrews and Gaines counties, and 20,490 net developed and undeveloped acres in Reeves and Culberson counties, Texas; and 14,549 net developed and undeveloped acres in Kansas.

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