Analysts Anticipate Goodrich Petroleum Corporation (GDP) Will Post Quarterly Sales of $29.39 Million

Equities analysts expect Goodrich Petroleum Corporation (NASDAQ:GDP) to report $29.39 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Goodrich Petroleum’s earnings, with the highest sales estimate coming in at $33.00 million and the lowest estimate coming in at $26.00 million. Goodrich Petroleum posted sales of $11.06 million in the same quarter last year, which suggests a positive year-over-year growth rate of 165.7%. The business is scheduled to report its next quarterly earnings results on Thursday, March 7th.

According to Zacks, analysts expect that Goodrich Petroleum will report full-year sales of $83.04 million for the current year, with estimates ranging from $79.00 million to $88.00 million. For the next year, analysts forecast that the business will post sales of $156.14 million, with estimates ranging from $147.00 million to $170.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Goodrich Petroleum.

Goodrich Petroleum (NASDAQ:GDP) last announced its quarterly earnings data on Tuesday, August 7th. The company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.06). The firm had revenue of $17.84 million during the quarter, compared to analyst estimates of $16.70 million.

Separately, Ifs Securities reaffirmed an “outperform” rating on shares of Goodrich Petroleum in a report on Monday, October 29th.

Shares of Goodrich Petroleum stock traded down $0.65 on Friday, reaching $13.70. 12,429 shares of the company were exchanged, compared to its average volume of 42,347. Goodrich Petroleum has a 1-year low of $9.50 and a 1-year 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.

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