Equities research analysts predict that Laredo Petroleum Inc (NYSE:LPI) will report earnings of $0.25 per share for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Laredo Petroleum’s earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.19. Laredo Petroleum reported earnings of $0.10 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 150%. The business is expected to announce its next earnings results on Monday, August 6th.
According to Zacks, analysts expect that Laredo Petroleum will report full-year earnings of $1.05 per share for the current year, with EPS estimates ranging from $0.81 to $1.35. For the next financial year, analysts expect that the business will report earnings of $1.25 per share, with EPS estimates ranging from $0.70 to $1.87. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last posted its earnings results on Wednesday, May 2nd. The oil and gas producer reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.02). The firm had revenue of $259.70 million during the quarter, compared to analyst estimates of $211.73 million. Laredo Petroleum had a net margin of 63.53% and a return on equity of 27.02%. The business’s revenue for the quarter was up 37.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 earnings per share.
A number of research firms have recently issued reports on LPI. BMO Capital Markets reissued a “hold” rating and issued a $12.00 price target on shares of Laredo Petroleum in a research note on Thursday, January 11th. Tudor Pickering downgraded shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday. Robert W. Baird downgraded shares of Laredo Petroleum from an “outperform” rating to a “neutral” rating in a research note on Thursday, May 3rd. Williams Capital reissued a “hold” rating and issued a $11.00 price target on shares of Laredo Petroleum in a research note on Thursday, February 15th. Finally, Deutsche Bank began coverage on shares of Laredo Petroleum in a research note on Thursday, February 1st. They issued a “hold” rating and a $11.00 price target on the stock. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $12.56.
A number of institutional investors and hedge funds have recently made changes to their positions in LPI. Schwab Charles Investment Management Inc. grew its holdings in Laredo Petroleum by 1.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 417,249 shares of the oil and gas producer’s stock worth $5,396,000 after acquiring an additional 5,946 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Laredo Petroleum by 2.6% during the 4th quarter. Wells Fargo & Company MN now owns 304,856 shares of the oil and gas producer’s stock worth $3,234,000 after acquiring an additional 7,683 shares in the last quarter. Chicago Equity Partners LLC grew its holdings in Laredo Petroleum by 7.6% during the 1st quarter. Chicago Equity Partners LLC now owns 129,570 shares of the oil and gas producer’s stock worth $1,129,000 after acquiring an additional 9,150 shares in the last quarter. Aperio Group LLC grew its holdings in Laredo Petroleum by 52.7% during the 1st quarter. Aperio Group LLC now owns 26,848 shares of the oil and gas producer’s stock worth $234,000 after acquiring an additional 9,261 shares in the last quarter. Finally, Swiss National Bank grew its holdings in Laredo Petroleum by 3.7% during the 1st quarter. Swiss National Bank now owns 274,400 shares of the oil and gas producer’s stock worth $2,390,000 after acquiring an additional 9,900 shares in the last quarter.
Laredo Petroleum opened at $9.71 on Tuesday, Marketbeat Ratings reports. The stock has a market cap of $2.35 billion, a P/E ratio of 16.18, a PEG ratio of 1.90 and a beta of 1.20. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.90.
Laredo Petroleum announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 14th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the oil and gas producer to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
About Laredo Petroleum
Laredo Petroleum, Inc operates as an independent energy company in the United States. It operates through two segments, Exploration and Production; and Midstream and Marketing. The company engages in the acquisition, exploration, and development of oil and natural gas properties; and the transportation of oil and natural gas primarily in the Permian Basin in West Texas, as well as rig fuel, natural gas lift, and water delivery and takeaway services.
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