Amplify Energy Corp. Forecasted to Post Q3 2024 Earnings of $0.32 Per Share (NYSE:AMPY)

Amplify Energy Corp. (NYSE:AMPY) – Stock analysts at Roth Capital reduced their Q3 2024 earnings estimates for Amplify Energy in a research note issued on Friday, October 11th. Roth Capital analyst J. White now forecasts that the company will earn $0.32 per share for the quarter, down from their previous estimate of $0.38. The consensus estimate for Amplify Energy’s current full-year earnings is $1.16 per share. Roth Capital also issued estimates for Amplify Energy’s Q4 2024 earnings at $0.40 EPS, FY2024 earnings at $1.13 EPS, Q1 2025 earnings at $0.42 EPS, Q2 2025 earnings at $0.34 EPS, Q3 2025 earnings at $0.41 EPS, Q4 2025 earnings at $0.55 EPS and FY2025 earnings at $1.71 EPS.

Separately, Alliance Global Partners boosted their price target on Amplify Energy from $9.00 to $9.50 and gave the company a “buy” rating in a research note on Friday, August 9th.

Amplify Energy Price Performance

Amplify Energy stock opened at $6.63 on Monday. The firm has a market cap of $262.63 million, a PE ratio of 9.08 and a beta of 1.94. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.84 and a quick ratio of 0.84. The stock’s fifty day moving average price is $6.81 and its two-hundred day moving average price is $6.76. Amplify Energy has a one year low of $3.56 and a one year high of $8.15.

Amplify Energy (NYSE:AMPY) last announced its earnings results on Wednesday, August 7th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.14). The business had revenue of $79.50 million for the quarter, compared to the consensus estimate of $79.62 million. Amplify Energy had a return on equity of 7.40% and a net margin of 8.95%. During the same period in the prior year, the business posted $0.24 earnings per share.

Institutional Trading of Amplify Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Innealta Capital LLC bought a new position in Amplify Energy in the second quarter valued at about $26,000. Fortitude Family Office LLC boosted its stake in shares of Amplify Energy by 167.5% in the 2nd quarter. Fortitude Family Office LLC now owns 4,028 shares of the company’s stock valued at $27,000 after purchasing an additional 2,522 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Amplify Energy during the 2nd quarter valued at approximately $52,000. Price T Rowe Associates Inc. MD acquired a new position in Amplify Energy during the 1st quarter worth approximately $67,000. Finally, Creative Planning bought a new position in Amplify Energy in the 3rd quarter valued at approximately $67,000. 42.84% of the stock is currently owned by institutional investors.

About Amplify Energy

Amplify Energy Corp., together with its subsidiaries, engages in the acquisition, development, exploitation, and production of oil and natural gas properties in the United States. The company’s properties consist of operated and non-operated working interests in producing and undeveloped leasehold acreage, as well as working interests in identified producing wells located in Oklahoma, the Rockies, federal waters offshore Southern California, East Texas/North Louisiana, and Eagle Ford.