Zacks: Brokerages Anticipate Goodrich Petroleum Corporation (GDP) Will Announce Quarterly Sales of $31.68 Million

Equities research analysts predict that Goodrich Petroleum Corporation (NASDAQ:GDP) will announce $31.68 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Goodrich Petroleum’s earnings. The highest sales estimate is $34.00 million and the lowest is $29.00 million. Goodrich Petroleum posted sales of $11.06 million in the same quarter last year, which suggests a positive year-over-year growth rate of 186.4%. The business is expected to report its next quarterly earnings results on Thursday, March 7th.

On average, analysts expect that Goodrich Petroleum will report full year sales of $85.72 million for the current fiscal year, with estimates ranging from $83.00 million to $89.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $153.23 million, with estimates ranging from $145.00 million to $162.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Goodrich Petroleum.

Goodrich Petroleum (NASDAQ:GDP) last posted its quarterly earnings data on Thursday, November 8th. The company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.09). The business had revenue of $24.33 million for the quarter, compared to analysts’ expectations of $24.15 million.

GDP has been the subject of a number of research reports. Capital One Financial downgraded shares of Goodrich Petroleum from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th. Ifs Securities reissued an “outperform” rating on shares of Goodrich Petroleum in a research report on Monday, October 29th.

Shares of Goodrich Petroleum stock traded down $0.09 on Friday, reaching $14.40. 100 shares of the company traded hands, compared to its average volume of 35,638. Goodrich Petroleum has a 52 week low of $9.92 and a 52 week high of $15.75.

About Goodrich Petroleum

Goodrich Petroleum Corporation, an independent oil and natural gas company, engages in the exploration, development, and production of oil and natural gas. It primarily holds interests in the Haynesville Shale Trend in northwest Louisiana and East Texas; Tuscaloosa Marine Shale Trend located in southwest Mississippi and southeast Louisiana; and the Eagle Ford Shale Trend situated in South Texas.

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