$155.20 Million in Sales Expected for Synergy Resources Corporation (SRCI) This Quarter

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Equities research analysts expect Synergy Resources Corporation (NASDAQ:SRCI) to post sales of $155.20 million for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have made estimates for Synergy Resources’ earnings, with the highest sales estimate coming in at $163.00 million and the lowest estimate coming in at $150.49 million. Synergy Resources posted sales of $103.59 million in the same quarter last year, which would indicate a positive year over year growth rate of 49.8%. The company is scheduled to announce its next earnings results on Wednesday, November 7th.

On average, analysts expect that Synergy Resources will report full-year sales of $642.43 million for the current year, with estimates ranging from $608.00 million to $669.00 million. For the next financial year, analysts expect that the firm will report sales of $901.81 million, with estimates ranging from $821.20 million to $1.11 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Synergy Resources.

Synergy Resources (NASDAQ:SRCI) last issued its quarterly earnings data on Wednesday, August 1st. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The company had revenue of $147.09 million for the quarter, compared to analysts’ expectations of $144.87 million.

SRCI has been the subject of a number of analyst reports. Roth Capital upgraded Synergy Resources from a “neutral” rating to a “buy” rating in a research note on Thursday, October 18th. Seaport Global Securities restated a “neutral” rating on shares of Synergy Resources in a research note on Tuesday, July 24th.

Shares of NASDAQ SRCI opened at $6.99 on Wednesday. Synergy Resources has a 1-year low of $6.68 and a 1-year high of $13.32.

Synergy Resources Company Profile

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.

Read More: Return on Investment (ROI) Defined, Explained

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