$0.47 EPS Expected for PDC Energy Inc (NASDAQ:PDCE) This Quarter

Brokerages expect that PDC Energy Inc (NASDAQ:PDCE) will post earnings of $0.47 per share for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for PDC Energy’s earnings, with the lowest EPS estimate coming in at $0.15 and the highest estimate coming in at $0.83. PDC Energy posted earnings of $0.48 per share during the same quarter last year, which would indicate a negative year over year growth rate of 2.1%. The firm is expected to issue its next earnings report on Monday, November 4th.

On average, analysts expect that PDC Energy will report full year earnings of $1.62 per share for the current fiscal year, with EPS estimates ranging from $0.90 to $2.60. For the next year, analysts anticipate that the firm will post earnings of $3.27 per share, with EPS estimates ranging from $1.95 to $5.13. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover PDC Energy.

PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings data on Wednesday, August 7th. The energy producer reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.11). PDC Energy had a negative return on equity of 3.08% and a net margin of 7.73%. The business had revenue of $390.70 million during the quarter, compared to the consensus estimate of $333.78 million. During the same quarter last year, the company earned $0.56 EPS. PDC Energy’s revenue for the quarter was up 83.9% on a year-over-year basis.

PDCE has been the topic of several recent research reports. Imperial Capital reiterated an “outperform” rating and issued a $68.00 price objective (up previously from $66.00) on shares of PDC Energy in a research note on Friday, May 3rd. BidaskClub cut shares of PDC Energy from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 9th. Bank of America set a $54.00 target price on shares of PDC Energy and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. MKM Partners set a $47.00 price objective on shares of PDC Energy and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Williams Capital reaffirmed a “buy” rating and set a $61.00 price objective on shares of PDC Energy in a report on Thursday, May 2nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. PDC Energy currently has an average rating of “Hold” and an average price target of $52.20.

A number of hedge funds and other institutional investors have recently bought and sold shares of PDCE. Norges Bank purchased a new position in PDC Energy during the fourth quarter worth $17,582,000. Victory Capital Management Inc. boosted its stake in PDC Energy by 20.1% during the first quarter. Victory Capital Management Inc. now owns 3,497,027 shares of the energy producer’s stock worth $142,259,000 after buying an additional 584,123 shares during the period. Nuveen Asset Management LLC bought a new stake in shares of PDC Energy during the second quarter worth $13,052,000. Anchor Capital Advisors LLC bought a new stake in shares of PDC Energy during the first quarter worth $14,271,000. Finally, Monarch Partners Asset Management LLC bought a new stake in shares of PDC Energy during the first quarter worth $6,899,000.

Shares of NASDAQ:PDCE traded up $0.29 during trading on Friday, hitting $27.90. The company’s stock had a trading volume of 46,539 shares, compared to its average volume of 1,392,004. The company has a 50-day moving average of $29.27 and a 200-day moving average of $35.69. PDC Energy has a 12 month low of $24.13 and a 12 month high of $57.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -9.41, a P/E/G ratio of 0.70 and a beta of 1.09.

About PDC Energy

PDC Energy, Inc, an independent exploration and production company, acquires, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in the United States. Its operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc in June 2012.

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Earnings History and Estimates for PDC Energy (NASDAQ:PDCE)

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