Brokerages forecast that Falcon Minerals Corp (NASDAQ:FLMN) will report $21.18 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Falcon Minerals’ earnings. The lowest sales estimate is $19.92 million and the highest is $22.00 million. The business is expected to issue its next earnings results before the market opens on Monday, August 5th.
According to Zacks, analysts expect that Falcon Minerals will report full year sales of $86.72 million for the current fiscal year, with estimates ranging from $79.37 million to $91.00 million. For the next financial year, analysts anticipate that the company will report sales of $104.70 million, with estimates ranging from $92.51 million to $114.08 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Falcon Minerals.
Falcon Minerals (NASDAQ:FLMN) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. The firm had revenue of $21.26 million for the quarter, compared to analysts’ expectations of $20.49 million.
FLMN has been the topic of several recent research reports. Northland Securities restated a “buy” rating and set a $12.00 price target on shares of Medallion Financial in a research report on Tuesday, May 7th. Royal Bank of Canada restated a “neutral” rating and set a $145.00 price target on shares of Travelers Companies in a research report on Thursday, April 18th. Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird initiated coverage on Falcon Minerals in a research report on Thursday, May 23rd. They set an “outperform” rating and a $7.35 price target on the stock. Finally, Capital One Financial initiated coverage on Falcon Minerals in a research report on Friday, May 31st. They set an “overweight” rating and a $10.00 price target on the stock. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $10.09.
FLMN opened at $8.13 on Monday. The stock’s 50 day moving average is $7.76. The company has a current ratio of 11.11, a quick ratio of 11.12 and a debt-to-equity ratio of 0.11. Falcon Minerals has a 1 year low of $6.71 and a 1 year high of $11.70. The company has a market cap of $713.48 million, a price-to-earnings ratio of 40.65 and a beta of 0.33.
In other Falcon Minerals news, Director Al J. Hirshberg acquired 30,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average cost of $8.00 per share, for a total transaction of $240,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 15.80% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Arlington Partners LLC bought a new stake in shares of Falcon Minerals in the 2nd quarter worth approximately $71,000. RBF Capital LLC bought a new stake in shares of Falcon Minerals in the 4th quarter worth approximately $85,000. Squarepoint Ops LLC bought a new stake in shares of Falcon Minerals in the 4th quarter worth approximately $116,000. Hodges Capital Management Inc. grew its position in shares of Falcon Minerals by 15.2% in the 1st quarter. Hodges Capital Management Inc. now owns 19,000 shares of the company’s stock worth $168,000 after buying an additional 2,500 shares during the last quarter. Finally, Deprince Race & Zollo Inc. grew its position in shares of Falcon Minerals by 36.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 20,500 shares of the company’s stock worth $174,000 after buying an additional 5,500 shares during the last quarter. Hedge funds and other institutional investors own 65.43% of the company’s stock.
Falcon Minerals Company Profile
Falcon Minerals Corporation acquires and owns mineral, royalty, and over-riding royalty interests in oil and natural gas properties in North America. It owns interests covering approximately 256,000 gross unit acres in the Eagle Ford Shale and Austin Chalk in Karnes, DeWitt, and Gonzales Counties in Texas, as well as approximately 68,000 gross unit acres in Pennsylvania, Ohio, and West Virginia that is prospective for the Marcellus Shale.
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