Penn Virginia Co. (NASDAQ:PVAC) Expected to Post Earnings of $1.80 Per Share

Analysts expect Penn Virginia Co. (NASDAQ:PVAC) to post $1.80 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Penn Virginia’s earnings, with the lowest EPS estimate coming in at $1.69 and the highest estimate coming in at $1.90. Penn Virginia posted earnings of $2.56 per share during the same quarter last year, which suggests a negative year over year growth rate of 29.7%. The business is scheduled to report its next earnings results on Wednesday, February 26th.

According to Zacks, analysts expect that Penn Virginia will report full year earnings of $8.01 per share for the current year, with EPS estimates ranging from $7.90 to $8.11. For the next financial year, analysts anticipate that the business will report earnings of $7.49 per share, with EPS estimates ranging from $6.99 to $8.21. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Penn Virginia.

Penn Virginia (NASDAQ:PVAC) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.08. The company had revenue of $119.30 million during the quarter, compared to the consensus estimate of $121.18 million. Penn Virginia had a return on equity of 29.06% and a net margin of 56.77%.

Several research analysts have commented on PVAC shares. Northland Securities restated a “buy” rating and issued a $54.00 target price on shares of Penn Virginia in a research note on Friday, November 8th. ValuEngine upgraded Penn Virginia from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Zacks Investment Research upgraded Penn Virginia from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, BidaskClub downgraded Penn Virginia from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $60.50.

Hedge funds and other institutional investors have recently modified their holdings of the business. Tyers Asset Management LLC bought a new position in Penn Virginia in the 2nd quarter worth about $31,000. Riverhead Capital Management LLC bought a new position in Penn Virginia in the 2nd quarter worth about $34,000. Elkfork Partners LLC bought a new position in Penn Virginia in the 2nd quarter worth about $43,000. Meadow Creek Investment Management LLC purchased a new stake in shares of Penn Virginia in the 2nd quarter valued at about $54,000. Finally, Glen Harbor Capital Management LLC purchased a new stake in shares of Penn Virginia in the 2nd quarter valued at about $66,000.

NASDAQ PVAC traded down $0.66 during trading hours on Monday, hitting $28.25. The company had a trading volume of 116,363 shares, compared to its average volume of 126,892. Penn Virginia has a 52 week low of $23.00 and a 52 week high of $58.28. The firm has a 50 day simple moving average of $28.41 and a 200 day simple moving average of $28.87. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $427.23 million, a price-to-earnings ratio of 3.07 and a beta of 1.46.

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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