Zacks: Brokerages Anticipate Laredo Petroleum, Inc. (NYSE:LPI) Will Announce Earnings of $3.50 Per Share

Wall Street brokerages expect that Laredo Petroleum, Inc. (NYSE:LPI) will report earnings of $3.50 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Laredo Petroleum’s earnings. The highest EPS estimate is $5.60 and the lowest is $2.48. Laredo Petroleum posted earnings per share of $2.43 during the same quarter last year, which would suggest a positive year over year growth rate of 44%. The company is expected to issue its next quarterly earnings report on Wednesday, August 4th.

According to Zacks, analysts expect that Laredo Petroleum will report full-year earnings of $14.23 per share for the current fiscal year, with EPS estimates ranging from $10.41 to $20.53. For the next year, analysts expect that the firm will post earnings of $22.55 per share, with EPS estimates ranging from $13.26 to $30.67. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Laredo Petroleum.

Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings data on Sunday, February 21st. The oil and gas producer reported $3.23 EPS for the quarter, topping the Zacks’ consensus estimate of $3.19 by $0.04. The company had revenue of $188.07 million during the quarter, compared to the consensus estimate of $183.28 million. Laredo Petroleum had a positive return on equity of 23.92% and a negative net margin of 111.63%.

Several research firms recently commented on LPI. Zacks Investment Research downgraded Laredo Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 4th. Piper Sandler raised their target price on Laredo Petroleum from $39.00 to $44.00 in a research report on Tuesday. Raymond James restated a “buy” rating on shares of Laredo Petroleum in a research report on Wednesday, February 24th. Finally, Siebert Williams Shank restated a “hold” rating and set a $26.00 target price on shares of Laredo Petroleum in a research report on Tuesday, February 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $28.00.

Shares of Laredo Petroleum stock traded up $0.23 during midday trading on Wednesday, hitting $39.57. 16,642 shares of the company were exchanged, compared to its average volume of 555,522. The company has a debt-to-equity ratio of 8.61, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market cap of $510.45 million, a P/E ratio of -0.63 and a beta of 4.72. Laredo Petroleum has a 52 week low of $7.71 and a 52 week high of $43.98. The firm has a 50 day simple moving average of $34.92 and a 200-day simple moving average of $25.95.

Institutional investors and hedge funds have recently modified their holdings of the business. The PNC Financial Services Group Inc. increased its stake in shares of Laredo Petroleum by 140.8% in the 1st quarter. The PNC Financial Services Group Inc. now owns 1,310 shares of the oil and gas producer’s stock valued at $39,000 after buying an additional 766 shares during the period. Rhumbline Advisers increased its stake in shares of Laredo Petroleum by 5.9% in the 1st quarter. Rhumbline Advisers now owns 16,141 shares of the oil and gas producer’s stock valued at $485,000 after buying an additional 893 shares during the period. New York State Teachers Retirement System increased its stake in shares of Laredo Petroleum by 30.1% in the 1st quarter. New York State Teachers Retirement System now owns 3,890 shares of the oil and gas producer’s stock valued at $117,000 after buying an additional 900 shares during the period. tru Independence LLC acquired a new stake in shares of Laredo Petroleum in the 4th quarter valued at $18,715,000. Finally, Cowa LLC acquired a new stake in shares of Laredo Petroleum in the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 59.68% of the company’s stock.

About Laredo Petroleum

Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. It engages in the sale of oil, natural gas liquids, and natural gas. The company also engages in the integrated oil and natural gas gathering and transportation systems and related facilities; centralized oil storage tanks; natural gas lift, fuel for drilling, and completions activities; centralized compression infrastructure; and water storage, recycling and transportation facilities.

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Earnings History and Estimates for Laredo Petroleum (NYSE:LPI)

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