$32.86 Million in Sales Expected for Goodrich Petroleum Corporation (GDP) This Quarter

Brokerages predict that Goodrich Petroleum Corporation (NASDAQ:GDP) will announce $32.86 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Goodrich Petroleum’s earnings, with the highest sales estimate coming in at $35.00 million and the lowest estimate coming in at $31.00 million. Goodrich Petroleum posted sales of $11.06 million in the same quarter last year, which would suggest a positive year over year growth rate of 197.1%. The company is expected to announce its next earnings results before the market opens on Tuesday, March 5th.

According to Zacks, analysts expect that Goodrich Petroleum will report full-year sales of $86.74 million for the current financial year, with estimates ranging from $84.00 million to $89.10 million. For the next financial year, analysts expect that the business will post sales of $147.31 million, with estimates ranging from $140.25 million to $156.20 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Goodrich Petroleum.

Goodrich Petroleum (NASDAQ:GDP) last released its earnings results on Thursday, November 8th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). The company had revenue of $24.33 million for the quarter, compared to analyst estimates of $24.15 million.

Several research firms have issued reports on GDP. Capital One Financial cut Goodrich Petroleum from an “overweight” rating to an “equal weight” rating in a report on Thursday, December 20th. Ifs Securities reaffirmed an “outperform” rating on shares of Goodrich Petroleum in a report on Monday, October 29th.

Shares of NASDAQ GDP traded up $0.01 during trading on Monday, hitting $12.77. The company had a trading volume of 8,000 shares, compared to its average volume of 26,782. Goodrich Petroleum has a 52 week low of $9.92 and a 52 week high of $15.75.

About Goodrich Petroleum

Goodrich Petroleum Corporation, an independent oil and natural gas company, engages in the exploration, development, and production of oil and natural gas. It primarily holds interests in the Haynesville Shale Trend in northwest Louisiana and East Texas; Tuscaloosa Marine Shale Trend located in southwest Mississippi and southeast Louisiana; and the Eagle Ford Shale Trend situated in South Texas.

Further Reading: The Discount Rate – What You Need to Know

Get a free copy of the Zacks research report on Goodrich Petroleum (GDP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Goodrich Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goodrich Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply