Brigham Minerals Inc (NYSE:MNRL) Expected to Post Quarterly Sales of $23.73 Million

Wall Street analysts expect Brigham Minerals Inc (NYSE:MNRL) to announce $23.73 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Brigham Minerals’ earnings, with the highest sales estimate coming in at $24.45 million and the lowest estimate coming in at $23.00 million. The company is scheduled to report its next earnings results after the market closes on Thursday, August 8th.

According to Zacks, analysts expect that Brigham Minerals will report full-year sales of $99.47 million for the current financial year, with estimates ranging from $93.90 million to $108.47 million. For the next fiscal year, analysts forecast that the business will report sales of $139.70 million, with estimates ranging from $116.00 million to $216.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Brigham Minerals.

Several analysts have recently commented on the company. Goldman Sachs Group assumed coverage on Brigham Minerals in a report on Monday, May 13th. They issued a “buy” rating and a $26.00 price target for the company. SunTrust Banks assumed coverage on Brigham Minerals in a report on Monday, June 17th. They issued a “buy” rating and a $28.00 price target for the company. Barclays assumed coverage on Brigham Minerals in a report on Monday, May 13th. They issued an “overweight” rating and a $27.00 price target for the company. Credit Suisse Group assumed coverage on Brigham Minerals in a report on Monday, May 13th. They issued an “outperform” rating and a $24.00 price target for the company. Finally, Wells Fargo & Co assumed coverage on Brigham Minerals in a report on Monday, May 13th. They issued an “outperform” rating and a $24.00 price target for the company. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $25.80.

An institutional investor recently bought a new position in Brigham Minerals stock. CIBC Private Wealth Group LLC purchased a new position in Brigham Minerals Inc (NYSE:MNRL) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 493,932 shares of the company’s stock, valued at approximately $10,600,000. CIBC Private Wealth Group LLC owned about 0.97% of Brigham Minerals as of its most recent SEC filing.

Shares of MNRL traded down $0.17 during mid-day trading on Friday, hitting $20.44. The company’s stock had a trading volume of 218,106 shares, compared to its average volume of 111,151. The business has a 50-day moving average of $21.01. Brigham Minerals has a 1-year low of $18.61 and a 1-year high of $22.96.

Brigham Minerals Company Profile

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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Earnings History and Estimates for Brigham Minerals (NYSE:MNRL)

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