Zacks: Analysts Expect Penn Virginia Co. (NASDAQ:PVAC) to Post $2.01 Earnings Per Share

Wall Street brokerages expect Penn Virginia Co. (NASDAQ:PVAC) to announce earnings of $2.01 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Penn Virginia’s earnings, with the lowest EPS estimate coming in at $1.59 and the highest estimate coming in at $2.22. Penn Virginia reported earnings per share of $2.72 during the same quarter last year, which indicates a negative year over year growth rate of 26.1%. The company is expected to announce its next earnings results on Thursday, November 14th.

According to Zacks, analysts expect that Penn Virginia will report full year earnings of $8.35 per share for the current fiscal year, with EPS estimates ranging from $7.63 to $8.73. For the next year, analysts anticipate that the business will report earnings of $8.83 per share, with EPS estimates ranging from $8.62 to $9.12. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover Penn Virginia.

Penn Virginia (NASDAQ:PVAC) last released its earnings results on Wednesday, August 7th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.01. Penn Virginia had a return on equity of 37.14% and a net margin of 47.90%. The company had revenue of $122.77 million for the quarter, compared to analysts’ expectations of $122.43 million.

PVAC has been the topic of several recent analyst reports. ValuEngine cut Penn Virginia from a “sell” rating to a “strong sell” rating in a research report on Friday, April 19th. BidaskClub raised Penn Virginia from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 24th. Capital One Financial raised Penn Virginia from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Imperial Capital reissued an “outperform” rating and set a $67.00 price target (down previously from $70.00) on shares of Penn Virginia in a research note on Monday, May 13th. Finally, TheStreet lowered Penn Virginia from a “c-” rating to a “d+” rating in a research note on Tuesday, April 16th. Three investment analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $75.00.

Several large investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its stake in shares of Penn Virginia by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 9,596 shares of the company’s stock worth $519,000 after acquiring an additional 211 shares in the last quarter. Texas Permanent School Fund boosted its stake in shares of Penn Virginia by 4.0% during the 1st quarter. Texas Permanent School Fund now owns 9,128 shares of the company’s stock worth $403,000 after acquiring an additional 349 shares in the last quarter. Comerica Bank boosted its stake in shares of Penn Virginia by 2.8% during the 1st quarter. Comerica Bank now owns 13,744 shares of the company’s stock worth $590,000 after acquiring an additional 376 shares in the last quarter. Bank of Montreal Can lifted its stake in Penn Virginia by 6.6% in the 1st quarter. Bank of Montreal Can now owns 7,631 shares of the company’s stock valued at $336,000 after buying an additional 475 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Penn Virginia by 1.4% in the 1st quarter. Rhumbline Advisers now owns 37,477 shares of the company’s stock valued at $1,653,000 after buying an additional 508 shares in the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ PVAC traded down $0.23 on Tuesday, hitting $31.25. 337,563 shares of the company’s stock were exchanged, compared to its average volume of 232,838. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.15. The firm has a 50-day moving average price of $30.99. Penn Virginia has a fifty-two week low of $27.33 and a fifty-two week high of $89.62. The stock has a market cap of $476.18 million, a price-to-earnings ratio of 3.40 and a beta of 1.33.

Penn Virginia Company Profile

Penn Virginia Corporation, an independent oil and gas company, engages in the onshore exploration, development, and production of crude oil, natural gas liquids, and natural gas in the United States. It primarily operates wells in the Eagle Ford Shale field in South Texas. As of December 31, 2018, it had total proved reserves of approximately 123 million barrels of oil equivalent; and 460 gross productive wells, as well as owned approximately 98,200 gross acres of leasehold and royalty interests.

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Earnings History and Estimates for Penn Virginia (NASDAQ:PVAC)

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