Goodrich Petroleum Corporation (NASDAQ:GDP) Expected to Post Quarterly Sales of $33.65 Million

Analysts predict that Goodrich Petroleum Corporation (NASDAQ:GDP) will post $33.65 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Goodrich Petroleum’s earnings. The highest sales estimate is $35.00 million and the lowest is $32.50 million. Goodrich Petroleum posted sales of $33.91 million in the same quarter last year, which suggests a negative year-over-year growth rate of 0.8%. The company is scheduled to issue its next earnings results on Tuesday, March 3rd.

On average, analysts expect that Goodrich Petroleum will report full-year sales of $121.78 million for the current year, with estimates ranging from $120.70 million to $123.00 million. For the next financial year, analysts expect that the company will post sales of $134.97 million, with estimates ranging from $131.40 million to $142.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Goodrich Petroleum.

Goodrich Petroleum (NASDAQ:GDP) last released its earnings results on Thursday, November 7th. The company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.18). The business had revenue of $27.17 million for the quarter, compared to analyst estimates of $33.55 million.

Separately, Seaport Global Securities reaffirmed a “buy” rating on shares of Goodrich Petroleum in a research report on Thursday, October 10th.

Shares of GDP stock traded down $0.05 during trading on Monday, hitting $8.51. 15 shares of the stock traded hands, compared to its average volume of 9,405. The firm’s fifty day moving average price is $9.70. Goodrich Petroleum has a 52-week low of $8.33 and a 52-week high of $15.24.

Goodrich Petroleum Company Profile

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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