Zacks: Analysts Expect Wildhorse Resource Development Corp (WRD) Will Announce Quarterly Sales of $148.20 Million

Wall Street brokerages expect Wildhorse Resource Development Corp (NYSE:WRD) to announce sales of $148.20 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Wildhorse Resource Development’s earnings. The lowest sales estimate is $139.50 million and the highest is $153.71 million. Wildhorse Resource Development reported sales of $39.26 million in the same quarter last year, which would suggest a positive year over year growth rate of 277.5%. The business is scheduled to announce its next earnings results after the market closes on Wednesday, March 7th.

According to Zacks, analysts expect that Wildhorse Resource Development will report full-year sales of $148.20 million for the current year, with estimates ranging from $386.45 million to $409.53 million. For the next year, analysts forecast that the business will report sales of $741.62 million per share, with estimates ranging from $663.97 million to $837.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Wildhorse Resource Development.

Wildhorse Resource Development (NYSE:WRD) last posted its quarterly earnings results on Wednesday, November 8th. The oil and natural gas company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The firm had revenue of $122.50 million during the quarter, compared to the consensus estimate of $117.89 million. Wildhorse Resource Development had a net margin of 8.88% and a return on equity of 1.24%. The company’s quarterly revenue was up 269.0% compared to the same quarter last year.

A number of equities analysts have recently issued reports on the company. Piper Jaffray Companies reaffirmed a “buy” rating and set a $29.00 price target on shares of Wildhorse Resource Development in a research report on Tuesday, January 9th. ValuEngine raised shares of Wildhorse Resource Development from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Zacks Investment Research lowered shares of Wildhorse Resource Development from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Imperial Capital reissued an “outperform” rating on shares of Wildhorse Resource Development in a research note on Friday, November 10th. Finally, Barclays upped their price target on shares of Wildhorse Resource Development from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, November 20th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Wildhorse Resource Development currently has an average rating of “Buy” and an average price target of $20.30.

Shares of Wildhorse Resource Development (NYSE WRD) traded up $0.10 during trading hours on Monday, reaching $20.04. 1,367,376 shares of the company were exchanged, compared to its average volume of 624,100. The company has a market capitalization of $2,030.00 and a P/E ratio of 44.53. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.57. Wildhorse Resource Development has a 52 week low of $10.36 and a 52 week high of $21.43.

A number of hedge funds and other institutional investors have recently bought and sold shares of WRD. Voya Investment Management LLC purchased a new stake in shares of Wildhorse Resource Development in the second quarter valued at about $124,000. Dynamic Technology Lab Private Ltd purchased a new stake in Wildhorse Resource Development during the third quarter worth about $186,000. The Manufacturers Life Insurance Company acquired a new position in Wildhorse Resource Development during the second quarter worth about $197,000. New York State Common Retirement Fund acquired a new position in Wildhorse Resource Development during the second quarter worth about $212,000. Finally, Wells Fargo & Company MN raised its position in Wildhorse Resource Development by 559.2% during the second quarter. Wells Fargo & Company MN now owns 17,488 shares of the oil and natural gas company’s stock worth $216,000 after acquiring an additional 14,835 shares during the last quarter. Institutional investors own 95.73% of the company’s stock.

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About Wildhorse Resource Development

WildHorse Resource Development Corporation is a holding company. The Company is an independent oil and natural gas company. The Company is focused on the acquisition, exploitation, exploration and development of oil, natural gas and natural gas liquid (NGL) resources in the United States. Its assets are characterized by concentrated acreage positions in Southeast Texas and North Louisiana with multiple producing stratigraphic horizons, or stacked pay zones, and single-well rates of return.

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