$187.66 Million in Sales Expected for Synergy Resources Corporation (NASDAQ:SRCI) This Quarter

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Wall Street analysts predict that Synergy Resources Corporation (NASDAQ:SRCI) will post $187.66 million in sales for the current quarter, Zacks reports. Eleven analysts have issued estimates for Synergy Resources’ earnings. The lowest sales estimate is $161.60 million and the highest is $210.00 million. Synergy Resources posted sales of $147.09 million during the same quarter last year, which suggests a positive year over year growth rate of 27.6%. The company is scheduled to announce its next quarterly earnings results on Wednesday, August 7th.

On average, analysts expect that Synergy Resources will report full year sales of $741.49 million for the current year, with estimates ranging from $671.00 million to $810.00 million. For the next financial year, analysts expect that the business will post sales of $822.78 million, with estimates ranging from $672.64 million to $1.28 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Synergy Resources.

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

Several research firms have commented on SRCI. BidaskClub lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Ifs Securities raised SRC Energy from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $9.00.

Synergy Resources stock traded down $0.07 during trading hours on Thursday, reaching $4.07. The stock had a trading volume of 5,025,142 shares, compared to its average volume of 4,146,622. Synergy Resources has a 52 week low of $3.99 and a 52 week high of $12.03. The stock has a 50 day moving average of $4.69.

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.

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