Wall Street brokerages expect SilverBow Resources Inc (NYSE:SBOW) to announce $47.13 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for SilverBow Resources’ earnings. The lowest sales estimate is $46.00 million and the highest is $48.10 million. SilverBow Resources posted sales of $45.78 million in the same quarter last year, which suggests a positive year over year growth rate of 2.9%. The company is scheduled to report its next quarterly earnings report on Tuesday, August 14th.
According to Zacks, analysts expect that SilverBow Resources will report full-year sales of $223.17 million for the current fiscal year, with estimates ranging from $219.00 million to $229.50 million. For the next year, analysts forecast that the firm will report sales of $289.97 million per share, with estimates ranging from $284.80 million to $300.10 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for SilverBow Resources.
SilverBow Resources (NYSE:SBOW) last issued its quarterly earnings data on Tuesday, May 8th. The company reported $0.72 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.57). The company had revenue of $52.75 million during the quarter, compared to analysts’ expectations of $50.60 million. SilverBow Resources had a return on equity of 33.99% and a net margin of 30.41%.
A number of analysts recently commented on SBOW shares. ValuEngine raised SilverBow Resources from a “hold” rating to a “buy” rating in a research report on Friday, March 23rd. SunTrust Banks started coverage on SilverBow Resources in a research report on Tuesday, April 10th. They set a “buy” rating and a $37.00 price target for the company. Finally, Zacks Investment Research downgraded SilverBow Resources from a “hold” rating to a “strong sell” rating in a research report on Saturday, April 28th. Three equities research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. SilverBow Resources has an average rating of “Hold” and a consensus target price of $33.40.
Several institutional investors and hedge funds have recently modified their holdings of SBOW. Strategic Value Partners LLC purchased a new stake in SilverBow Resources in the fourth quarter worth $133,040,000. Bank of Montreal Can purchased a new stake in SilverBow Resources in the fourth quarter worth $158,000. California Public Employees Retirement System purchased a new stake in SilverBow Resources in the fourth quarter worth $211,000. Two Sigma Investments LP purchased a new stake in SilverBow Resources in the fourth quarter worth $998,000. Finally, The Manufacturers Life Insurance Company increased its position in SilverBow Resources by 239.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 5,937 shares of the company’s stock worth $176,000 after buying an additional 4,190 shares during the last quarter. 82.52% of the stock is owned by institutional investors.
Shares of SBOW opened at $27.21 on Tuesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market cap of $307.06 million and a P/E ratio of 4.36. SilverBow Resources has a 12 month low of $19.89 and a 12 month high of $34.76.
SilverBow Resources Company Profile
SilverBow Resources, Inc, an energy company, engages in the exploration, development, and production of oil and gas from the Eagle Ford Shale in South Texas. As of December 31, 2017, it had proved reserves of 1.0 trillion cubic feet equivalent. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.
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