Wall Street brokerages expect Brigham Minerals Inc (NYSE:MNRL) to post earnings per share (EPS) of $0.23 for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Brigham Minerals’ earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.17. The company is scheduled to announce its next quarterly earnings results on Thursday, February 6th.
According to Zacks, analysts expect that Brigham Minerals will report full-year earnings of $0.60 per share for the current financial year, with EPS estimates ranging from $0.41 to $0.79. For the next financial year, analysts expect that the company will post earnings of $1.03 per share, with EPS estimates ranging from $0.83 to $1.39. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow Brigham Minerals.
Brigham Minerals (NYSE:MNRL) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). The business had revenue of $25.11 million for the quarter, compared to analyst estimates of $25.50 million.
Several equities analysts have weighed in on MNRL shares. Capital One Financial started coverage on shares of Brigham Minerals in a report on Friday, October 18th. They set an “overweight” rating and a $23.00 price target on the stock. Zacks Investment Research raised shares of Brigham Minerals from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Finally, Wells Fargo & Co lowered their price target on shares of Brigham Minerals from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Brigham Minerals presently has an average rating of “Buy” and an average target price of $25.08.
Institutional investors have recently added to or reduced their stakes in the company. Balter Liquid Alternatives LLC bought a new stake in Brigham Minerals in the second quarter worth $820,000. CIBC Private Wealth Group LLC bought a new stake in Brigham Minerals in the second quarter worth $10,600,000. Wells Fargo & Company MN bought a new stake in Brigham Minerals in the second quarter worth $152,000. Van ECK Associates Corp bought a new stake in Brigham Minerals in the second quarter worth $6,180,000. Finally, JPMorgan Chase & Co. bought a new stake in Brigham Minerals in the second quarter worth $93,000. Hedge funds and other institutional investors own 59.05% of the company’s stock.
NYSE:MNRL traded up $0.56 during trading hours on Monday, hitting $19.08. 306,000 shares of the stock traded hands, compared to its average volume of 215,311. The company has a debt-to-equity ratio of 0.76, a current ratio of 7.07 and a quick ratio of 7.07. Brigham Minerals has a 1 year low of $18.10 and a 1 year high of $23.29. The stock has a 50 day moving average price of $19.59 and a 200 day moving average price of $20.36.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 6.92%. The ex-dividend date is Tuesday, November 19th.
About Brigham Minerals
Brigham Minerals, Inc owns and operates a portfolio of mineral and royalty interests in the continental United States. The company primarily holds mineral and royalty interests in the Permian Basin in West Texas and New Mexico; the SCOOP/STACK plays in the Anadarko Basin of Oklahoma; the Denver-Julesburg Basin in Colorado; and Wyoming and the Williston Basin in North Dakota.
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