Analysts Anticipate Synergy Resources Corporation (NASDAQ:SRCI) Will Post Quarterly Sales of $164.55 Million

Wall Street brokerages expect Synergy Resources Corporation (NASDAQ:SRCI) to report sales of $164.55 million for the current quarter, Zacks reports. Ten analysts have provided estimates for Synergy Resources’ earnings. The lowest sales estimate is $145.00 million and the highest is $201.00 million. Synergy Resources posted sales of $160.98 million during the same quarter last year, which would indicate a positive year over year growth rate of 2.2%. The business is scheduled to issue its next earnings report on Wednesday, October 30th.

On average, analysts expect that Synergy Resources will report full year sales of $693.38 million for the current fiscal year, with estimates ranging from $652.20 million to $784.00 million. For the next financial year, analysts anticipate that the business will report sales of $763.99 million, with estimates ranging from $576.00 million to $1.16 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Synergy Resources.

Synergy Resources (NASDAQ:SRCI) last posted its earnings results on Wednesday, July 31st. The company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. The firm had revenue of $162.60 million for the quarter, compared to analyst estimates of $179.12 million.

A number of research analysts have issued reports on SRCI shares. BidaskClub raised shares of Synergy Resources from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 21st. Capital One Financial raised shares of Synergy Resources from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $9.00.

Synergy Resources stock traded down $0.18 during midday trading on Tuesday, reaching $4.78. 5,759,838 shares of the stock traded hands, compared to its average volume of 4,810,513. The firm has a fifty day moving average price of $4.64 and a two-hundred day moving average price of $4.99. Synergy Resources has a fifty-two week low of $3.17 and a fifty-two week high of $9.29.

About Synergy Resources

SRC Energy Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids primarily in the Denver-Julesburg Basin of Colorado. As of December 31, 2017, it had net proved oil and natural gas reserves of 69.4 million barrels of oil and condensate, 559.9 billion cubic feet of natural gas, and 64.0 million barrels of natural gas liquids; and operated 551 net producing wells, as well as had 98,600 gross and 88,300 net acres under lease in the Wattenberg Field.

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