Equities analysts expect Midland Exploration Inc. (NYSE:MD) to report sales of $886.36 million for the current quarter, Zacks reports. Eight analysts have made estimates for Midland Exploration’s earnings, with estimates ranging from $876.50 million to $894.51 million. Midland Exploration posted sales of $830.77 million during the same quarter last year, which suggests a positive year-over-year growth rate of 6.7%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, February 6th.
On average, analysts expect that Midland Exploration will report full-year sales of $886.36 million for the current fiscal year, with estimates ranging from $3.42 billion to $3.44 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.66 billion per share, with estimates ranging from $3.59 billion to $3.75 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Midland Exploration.
Midland Exploration (NYSE:MD) last released its earnings results on Wednesday, November 1st. The company reported C$0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.87. The business had revenue of C$868.95 million for the quarter, compared to analyst estimates of C$864.78 million. Midland Exploration had a net margin of 7.56% and a return on equity of 9.12%. Midland Exploration’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 earnings per share.
Several equities analysts have recently weighed in on MD shares. BMO Capital Markets started coverage on shares of Midland Exploration in a report on Monday, October 16th. They set a “market perform” rating and a $46.00 price objective on the stock. Zacks Investment Research upgraded shares of Midland Exploration from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Robert W. Baird restated a “hold” rating and issued a $47.00 target price on shares of Midland Exploration in a report on Sunday, September 3rd. BidaskClub lowered shares of Midland Exploration from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Finally, KeyCorp set a $51.00 target price on shares of Midland Exploration and gave the stock a “buy” rating in a report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of C$54.50.
Midland Exploration (NYSE:MD) opened at C$44.47 on Friday. Midland Exploration has a fifty-two week low of C$40.56 and a fifty-two week high of C$72.13.
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In other Midland Exploration news, insider John C. Pepia sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of C$42.85, for a total value of C$128,550.00. Following the sale, the insider now owns 35,569 shares of the company’s stock, valued at approximately C$1,524,131.65. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Cesar L. Alvarez sold 10,668 shares of Midland Exploration stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of C$42.59, for a total transaction of C$454,350.12. Following the sale, the director now directly owns 44,215 shares in the company, valued at approximately C$1,883,116.85. The disclosure for this sale can be found here.
Institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in shares of Midland Exploration by 8.1% during the 2nd quarter. Pacer Advisors Inc. now owns 1,940 shares of the company’s stock valued at $117,000 after purchasing an additional 145 shares in the last quarter. Commonwealth Bank of Australia lifted its position in Midland Exploration by 15.3% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,205 shares of the company’s stock valued at $132,000 after acquiring an additional 293 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in Midland Exploration during the 3rd quarter valued at about $103,000. Daiwa Securities Group Inc. lifted its position in Midland Exploration by 20.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,000 shares of the company’s stock valued at $181,000 after acquiring an additional 500 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new position in Midland Exploration during the 2nd quarter valued at about $217,000.
About Midland Exploration
MEDNAX, Inc is a provider of physician services, including newborn, anesthesia, maternal-fetal, teleradiology, pediatric cardiology and other pediatric subspecialty care. As of December 31, 2016, the Company’s national network consisted of over 3,600 affiliated physicians, including over 1,130 physicians providing neonatal clinical care, in 35 states and Puerto Rico, primarily within hospital-based neonatal intensive care units (NICUs), to babies born prematurely or with medical complications.
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