Brokerages Expect Ring Energy, Inc. (NASDAQ:REI) Will Post Quarterly Sales of $50.71 Million

Wall Street analysts expect Ring Energy, Inc. (NASDAQ:REI) to post $50.71 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Ring Energy’s earnings, with the highest sales estimate coming in at $53.42 million and the lowest estimate coming in at $48.50 million. Ring Energy reported sales of $32.69 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 55.1%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, November 5th.

On average, analysts expect that Ring Energy will report full year sales of $197.11 million for the current year, with estimates ranging from $192.40 million to $202.65 million. For the next financial year, analysts forecast that the company will post sales of $217.55 million, with estimates ranging from $194.00 million to $240.00 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Ring Energy.

Ring Energy (NASDAQ:REI) last announced its earnings results on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $51.33 million during the quarter, compared to analysts’ expectations of $49.66 million.

Separately, BidaskClub cut shares of Ring Energy from a “sell” rating to a “strong sell” rating in a report on Friday, May 24th.

NASDAQ REI opened at $1.58 on Tuesday. Ring Energy has a 52-week low of $1.23 and a 52-week high of $11.79. The firm has a 50-day moving average price of $1.71 and a 200 day moving average price of $3.77.

Ring Energy Company Profile

Ring Energy, Inc acquires, explores for, develops, and produces oil and natural gas in Texas and Kansas, the United States. As of December 31, 2016, its proved reserves consisted of approximately 27.7 million barrel of oil equivalent. The company also owns interests in 32,663 net developed and undeveloped acres in Andrews and Gaines counties, and 20,490 net developed and undeveloped acres in Reeves and Culberson counties, Texas; and 14,549 net developed and undeveloped acres in Kansas.

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