Analysts expect that Laredo Petroleum Inc (NYSE:LPI) will announce $0.24 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Laredo Petroleum’s earnings, with estimates ranging from $0.16 to $0.30. Laredo Petroleum posted earnings per share of $0.10 in the same quarter last year, which would suggest a positive year-over-year growth rate of 140%. The business is expected to report its next earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Laredo Petroleum will report full year earnings of $1.00 per share for the current fiscal year, with EPS estimates ranging from $0.68 to $1.45. For the next year, analysts forecast that the company will post earnings of $1.13 per share, with EPS estimates ranging from $0.91 to $1.56. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings data on Wednesday, February 14th. The oil and gas producer reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $240.34 million for the quarter, compared to analyst estimates of $212.57 million. Laredo Petroleum had a net margin of 66.77% and a return on equity of 30.02%. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 earnings per share.
A number of equities research analysts have recently weighed in on LPI shares. Piper Jaffray Companies reissued a “buy” rating and set a $15.00 price objective on shares of Laredo Petroleum in a report on Wednesday, November 22nd. Barclays reissued a “buy” rating on shares of Laredo Petroleum in a report on Thursday, November 23rd. National Securities started coverage on shares of Laredo Petroleum in a report on Tuesday, January 16th. They set a “buy” rating on the stock. Zacks Investment Research raised shares of Laredo Petroleum from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Wednesday, January 24th. Finally, Stifel Nicolaus set a $15.00 price objective on shares of Laredo Petroleum and gave the company a “buy” rating in a report on Monday, January 29th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.03.
A number of large investors have recently bought and sold shares of the business. HRT Financial LLC purchased a new stake in shares of Laredo Petroleum during the 4th quarter worth about $117,000. State of Alaska Department of Revenue purchased a new stake in shares of Laredo Petroleum during the 4th quarter worth about $123,000. Fox Run Management L.L.C. purchased a new stake in shares of Laredo Petroleum during the 3rd quarter worth about $167,000. Calamos Advisors LLC purchased a new stake in shares of Laredo Petroleum during the 3rd quarter worth about $177,000. Finally, Virtu Financial LLC purchased a new stake in shares of Laredo Petroleum during the 4th quarter worth about $154,000.
Shares of Laredo Petroleum (NYSE LPI) traded up $0.03 on Monday, hitting $8.36. 4,235,800 shares of the stock were exchanged, compared to its average volume of 3,668,749. The stock has a market capitalization of $2,030.00, a price-to-earnings ratio of 3.67, a PEG ratio of 1.67 and a beta of 1.21. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.03. Laredo Petroleum has a 12-month low of $7.41 and a 12-month high of $15.15.
Laredo Petroleum announced that its board has approved a stock repurchase plan on Wednesday, February 14th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the oil and gas producer to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
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Laredo Petroleum Company Profile
Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.
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