Approach Resources Inc. (AREX) Expected to Announce Earnings of -$0.07 Per Share

Analysts expect Approach Resources Inc. (NASDAQ:AREX) to report ($0.07) earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have issued estimates for Approach Resources’ earnings, with the highest EPS estimate coming in at ($0.05) and the lowest estimate coming in at ($0.10). Approach Resources reported earnings per share of ($0.27) in the same quarter last year, which indicates a positive year over year growth rate of 74.1%. The company is scheduled to announce its next quarterly earnings results on Thursday, March 8th.

On average, analysts expect that Approach Resources will report full-year earnings of ($0.37) per share for the current fiscal year, with EPS estimates ranging from ($0.41) to ($0.34). For the next fiscal year, analysts expect that the business will report earnings of ($0.28) per share, with EPS estimates ranging from ($0.41) to ($0.16). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow Approach Resources.

Approach Resources (NASDAQ:AREX) last released its earnings results on Wednesday, November 1st. The energy company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. Approach Resources had a negative net margin of 165.95% and a negative return on equity of 6.39%. The firm had revenue of $25.61 million for the quarter, compared to the consensus estimate of $25.74 million.

Several equities research analysts recently weighed in on AREX shares. ValuEngine cut shares of Approach Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of Approach Resources from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a research report on Tuesday, October 31st. Imperial Capital started coverage on shares of Approach Resources in a research report on Friday, August 18th. They issued an “in-line” rating and a $2.50 price target on the stock. Robert W. Baird restated a “hold” rating and issued a $4.00 price target on shares of Approach Resources in a research report on Tuesday, September 26th. Finally, Scotiabank restated a “hold” rating and issued a $3.00 price target on shares of Approach Resources in a research report on Wednesday, November 22nd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Approach Resources presently has an average rating of “Hold” and an average target price of $2.79.

Approach Resources (NASDAQ:AREX) traded down $0.10 during mid-day trading on Friday, hitting $2.39. 788,400 shares of the stock traded hands, compared to its average volume of 761,779. Approach Resources has a 1 year low of $1.93 and a 1 year high of $4.33. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.69.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu KCG Holdings LLC lifted its stake in Approach Resources by 182.8% in the second quarter. Virtu KCG Holdings LLC now owns 32,033 shares of the energy company’s stock worth $108,000 after acquiring an additional 20,705 shares during the period. Kornitzer Capital Management Inc. KS purchased a new stake in Approach Resources in the second quarter worth about $124,000. New York State Common Retirement Fund purchased a new stake in Approach Resources in the second quarter worth about $154,000. Rhumbline Advisers purchased a new stake in Approach Resources in the second quarter worth about $157,000. Finally, Edge Wealth Management LLC lifted its stake in Approach Resources by 25.0% in the second quarter. Edge Wealth Management LLC now owns 50,000 shares of the energy company’s stock worth $161,000 after acquiring an additional 10,000 shares during the period. Hedge funds and other institutional investors own 24.67% of the company’s stock.

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Approach Resources Company Profile

Approach Resources Inc is an independent energy company. The Company is focused on the exploration, development, production and acquisition of unconventional oil and gas reserves in the Midland Basin of the greater Permian Basin in West Texas. The Company’s business segment is the exploration and production of oil, natural gas liquids (NGLs) and natural gas.

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Earnings History and Estimates for Approach Resources (NASDAQ:AREX)

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