Zacks: Brokerages Expect SilverBow Resources Inc (NYSE:SBOW) Will Announce Earnings of $0.29 Per Share

Brokerages expect SilverBow Resources Inc (NYSE:SBOW) to announce earnings of $0.29 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for SilverBow Resources’ earnings. The lowest EPS estimate is $0.18 and the highest is $0.39. SilverBow Resources posted earnings per share of $5.49 in the same quarter last year, which would indicate a negative year over year growth rate of 94.7%. The company is scheduled to issue its next quarterly earnings results on Wednesday, August 5th.

According to Zacks, analysts expect that SilverBow Resources will report full-year earnings of $2.43 per share for the current year, with EPS estimates ranging from $2.34 to $2.52. For the next fiscal year, analysts anticipate that the business will post earnings of $3.05 per share, with EPS estimates ranging from $2.62 to $3.47. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for SilverBow Resources.

SilverBow Resources (NYSE:SBOW) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.62). SilverBow Resources had a net margin of 34.36% and a return on equity of 26.09%. The business had revenue of $53.38 million during the quarter, compared to the consensus estimate of $59.65 million.

Several analysts have recently issued reports on SBOW shares. Zacks Investment Research raised SilverBow Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday. Northland Securities upgraded SilverBow Resources from a “market perform” rating to an “outperform” rating and set a $7.00 target price for the company in a research report on Thursday, May 14th. Finally, ValuEngine upgraded SilverBow Resources from a “strong sell” rating to a “sell” rating in a research report on Thursday.

NYSE SBOW traded up $0.11 on Friday, reaching $3.22. The stock had a trading volume of 260,703 shares, compared to its average volume of 241,594. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a fifty day moving average of $4.03 and a two-hundred day moving average of $5.06. SilverBow Resources has a 1-year low of $1.50 and a 1-year high of $13.88. The company has a market cap of $38.29 million, a P/E ratio of 0.41 and a beta of 2.61.

In related news, Director Marcus C. Rowland sold 17,000 shares of SilverBow Resources stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $4.39, for a total transaction of $74,630.00. Following the sale, the director now directly owns 44,571 shares in the company, valued at $195,666.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.30% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SBOW. Meeder Asset Management Inc. purchased a new position in shares of SilverBow Resources in the fourth quarter valued at $27,000. Barclays PLC raised its position in shares of SilverBow Resources by 95.8% in the 4th quarter. Barclays PLC now owns 7,209 shares of the company’s stock worth $71,000 after acquiring an additional 3,528 shares in the last quarter. Bank of Montreal Can raised its position in shares of SilverBow Resources by 472.9% in the 4th quarter. Bank of Montreal Can now owns 7,877 shares of the company’s stock worth $78,000 after acquiring an additional 6,502 shares in the last quarter. UBS Group AG raised its position in shares of SilverBow Resources by 69.6% in the 4th quarter. UBS Group AG now owns 11,566 shares of the company’s stock worth $115,000 after acquiring an additional 4,746 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of SilverBow Resources by 29.5% in the 1st quarter. Rhumbline Advisers now owns 14,486 shares of the company’s stock worth $36,000 after acquiring an additional 3,300 shares in the last quarter. Hedge funds and other institutional investors own 63.10% of the company’s stock.

SilverBow Resources Company Profile

SilverBow Resources, Inc, an energy company, engages in the exploration, development, and production of oil and gas from the Eagle Ford Shale in South Texas. As of December 31, 2018, it had proved reserves of 1,345 MMcfe. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.

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Earnings History and Estimates for SilverBow Resources (NYSE:SBOW)

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