Synergy Resources Corporation (NASDAQ:SRCI) Expected to Announce Quarterly Sales of $194.53 Million

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Equities analysts expect Synergy Resources Corporation (NASDAQ:SRCI) to post sales of $194.53 million for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Synergy Resources’ earnings, with estimates ranging from $178.00 million to $210.00 million. Synergy Resources reported sales of $147.09 million in the same quarter last year, which would suggest a positive year over year growth rate of 32.3%. The company is scheduled to report its next earnings report on Wednesday, August 7th.

According to Zacks, analysts expect that Synergy Resources will report full year sales of $762.27 million for the current year, with estimates ranging from $713.00 million to $810.00 million. For the next year, analysts expect that the business will post sales of $846.92 million, with estimates ranging from $707.00 million to $1.28 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Synergy Resources.

Synergy Resources (NASDAQ:SRCI) last issued its earnings results on Wednesday, May 1st. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The firm had revenue of $189.46 million during the quarter, compared to analyst estimates of $178.20 million.

A number of equities research analysts have commented on SRCI shares. BidaskClub upgraded Synergy Resources from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. Ifs Securities upgraded Synergy Resources from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Synergy Resources currently has an average rating of “Buy” and a consensus target price of $9.00.

SRCI traded down $0.06 on Tuesday, reaching $4.80. The stock had a trading volume of 8,819,600 shares, compared to its average volume of 4,056,606. Synergy Resources has a fifty-two week low of $4.01 and a fifty-two week high of $12.03. The firm’s 50-day moving average price is $5.05.

About Synergy Resources

SRC Energy Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids primarily in the Denver-Julesburg Basin of Colorado. As of December 31, 2017, it had net proved oil and natural gas reserves of 69.4 million barrels of oil and condensate, 559.9 billion cubic feet of natural gas, and 64.0 million barrels of natural gas liquids; and operated 551 net producing wells, as well as had 98,600 gross and 88,300 net acres under lease in the Wattenberg Field.

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