Roth Capital Has Negative Forecast for PEDEVCO Q3 Earnings

PEDEVCO Corp. (NYSE:PED) – Equities researchers at Roth Capital lowered their Q3 2024 earnings estimates for PEDEVCO in a report issued on Tuesday, October 22nd. Roth Capital analyst J. White now forecasts that the company will post earnings per share of $0.02 for the quarter, down from their prior forecast of $0.03. The consensus estimate for PEDEVCO’s current full-year earnings is $0.08 per share. Roth Capital also issued estimates for PEDEVCO’s FY2024 earnings at $0.06 EPS, Q4 2025 earnings at $0.02 EPS and FY2025 earnings at $0.07 EPS.

PEDEVCO (NYSE:PED) last issued its earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $11.81 million during the quarter, compared to analysts’ expectations of $9.05 million. PEDEVCO had a net margin of 1.12% and a return on equity of 0.38%.

PED has been the subject of a number of other reports. StockNews.com initiated coverage on shares of PEDEVCO in a report on Friday, October 18th. They set a “sell” rating for the company. Alliance Global Partners initiated coverage on shares of PEDEVCO in a report on Wednesday, July 17th. They set a “buy” rating and a $1.75 target price for the company.

PEDEVCO Stock Performance

Shares of NYSE:PED opened at $0.93 on Thursday. The stock has a market capitalization of $82.66 million, a price-to-earnings ratio of 92.51 and a beta of 0.58. PEDEVCO has a 1-year low of $0.61 and a 1-year high of $1.10. The company has a 50 day moving average price of $0.92 and a 200 day moving average price of $0.93.

About PEDEVCO

PEDEVCO Corp., an oil and gas company, focuses on the acquisition, development, and production of oil and natural gas assets in the United States. It holds interests in the Permian Basin asset covering an area of approximately 22,721 net acres located in New Mexico; and D-J Basin asset covering an area of approximately 19,214 net acres located in Wyoming.