Wall Street analysts expect that Bellatrix Exploration Ltd (NYSE:BXE) (TSE:BXE) will post $55.22 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Bellatrix Exploration’s earnings, with estimates ranging from $48.30 million to $62.13 million. Bellatrix Exploration reported sales of $50.87 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.6%. The business is scheduled to issue its next earnings results on Wednesday, March 21st.
On average, analysts expect that Bellatrix Exploration will report full-year sales of $55.22 million for the current year, with estimates ranging from $194.40 million to $241.15 million. For the next financial year, analysts expect that the business will post sales of $214.02 million per share, with estimates ranging from $194.90 million to $247.95 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Bellatrix Exploration.
A number of equities research analysts recently issued reports on BXE shares. Zacks Investment Research lowered Bellatrix Exploration from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 8th. Canaccord Genuity reissued a “hold” rating and set a $3.75 price target on shares of Bellatrix Exploration in a research note on Friday, November 10th. Northland Securities reissued a “buy” rating and set a $4.50 price target on shares of Bellatrix Exploration in a research note on Friday, November 10th. AltaCorp Capital lowered Bellatrix Exploration from an “outperform” rating to a “sector perform” rating in a research note on Friday, November 10th. Finally, UBS Group lowered Bellatrix Exploration from a “market perform” rating to an “underperform” rating in a research note on Thursday, December 14th. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $3.41.
Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new stake in shares of Bellatrix Exploration during the 4th quarter worth approximately $335,000. First Eagle Investment Management LLC bought a new stake in shares of Bellatrix Exploration during the 3rd quarter worth approximately $1,153,000. Deutsche Bank AG lifted its stake in shares of Bellatrix Exploration by 7,718.2% during the 4th quarter. Deutsche Bank AG now owns 426,872 shares of the oil and gas exploration company’s stock worth $734,000 after acquiring an additional 421,412 shares during the last quarter. Finally, Proxima Capital Management LLC lifted its stake in shares of Bellatrix Exploration by 40.1% during the 4th quarter. Proxima Capital Management LLC now owns 1,800,000 shares of the oil and gas exploration company’s stock worth $3,079,000 after acquiring an additional 515,000 shares during the last quarter. 31.34% of the stock is owned by hedge funds and other institutional investors.
Shares of Bellatrix Exploration (BXE) opened at $1.30 on Tuesday. Bellatrix Exploration has a one year low of $0.99 and a one year high of $4.25. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.59 and a current ratio of 0.59.
TRADEMARK VIOLATION NOTICE: This piece of content was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark law. The original version of this piece of content can be read at https://ledgergazette.com/2018/03/15/55-22-million-in-sales-expected-for-bellatrix-exploration-ltd-bxe-this-quarter-2.html.
About Bellatrix Exploration
Bellatrix Exploration Ltd. is an oil and gas exploration company engaged in the exploration for, and the acquisition, development and production of oil and natural gas reserves in the provinces of Alberta, British Columbia and Saskatchewan. The Company’s properties include Ferrier, Willesden Green, Greater Pembina, Strachan and Harmattan.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Bellatrix Exploration Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bellatrix Exploration and related companies with MarketBeat.com's FREE daily email newsletter.