Wall Street analysts expect Rice Energy Inc. (NYSE:RICE) to announce $356.21 million in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Rice Energy’s earnings, with the highest sales estimate coming in at $393.20 million and the lowest estimate coming in at $322.00 million. Rice Energy posted sales of $198.92 million during the same quarter last year, which suggests a positive year-over-year growth rate of 79.1%. The company is scheduled to report its next earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Rice Energy will report full-year sales of $356.21 million for the current financial year, with estimates ranging from $1.45 billion to $1.60 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.80 billion per share, with estimates ranging from $1.72 billion to $1.85 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Rice Energy.
Rice Energy (NYSE:RICE) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). Rice Energy had a positive return on equity of 3.27% and a negative net margin of 3.00%. The company had revenue of $398.30 million during the quarter, compared to analyst estimates of $359.27 million. During the same period last year, the company posted ($1.07) earnings per share. The company’s revenue was up 155.3% compared to the same quarter last year.
Several equities research analysts recently commented on the stock. BidaskClub raised shares of Rice Energy from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Jefferies Group LLC set a $26.00 price objective on shares of Rice Energy and gave the company a “buy” rating in a research report on Saturday, June 17th. Scotiabank cut shares of Rice Energy from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $25.50 to $27.00 in a research report on Monday, June 26th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $27.00 price objective on shares of Rice Energy in a research report on Thursday, September 14th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $27.00 price objective on shares of Rice Energy in a research report on Friday, September 29th. Twenty analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $27.93.
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Rice Energy (NYSE RICE) traded down 1.33% during trading on Friday, hitting $27.37. 7,848,539 shares of the stock were exchanged. The firm’s market capitalization is $5.85 billion. The stock has a 50 day moving average price of $27.82 and a 200-day moving average price of $24.71. Rice Energy has a 12-month low of $18.30 and a 12-month high of $29.55.
Institutional investors have recently added to or reduced their stakes in the company. Seven Eight Capital LP acquired a new position in shares of Rice Energy during the 2nd quarter worth about $118,000. FNY Partners Fund LP acquired a new position in shares of Rice Energy during the 1st quarter worth about $127,000. Exane Asset Management acquired a new position in shares of Rice Energy during the 2nd quarter worth about $132,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Rice Energy by 9.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,605 shares of the oil and gas producer’s stock worth $149,000 after purchasing an additional 494 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Rice Energy by 22.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,304 shares of the oil and gas producer’s stock worth $195,000 after purchasing an additional 1,362 shares during the last quarter. Institutional investors own 96.08% of the company’s stock.
Rice Energy Company Profile
Rice Energy Inc (Rice Energy) is an independent natural gas and oil company. The Company is engaged in the acquisition, exploration and development of natural gas, oil and natural gas liquids (NGL) properties in the Appalachian Basin. The Company conducts its operations through two segments: Exploration and Production, and Midstream.
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