Zacks: Brokerages Expect Gastar Exploration Inc (GST) Will Announce Earnings of -$0.04 Per Share

Wall Street analysts expect Gastar Exploration Inc (NYSE:GST) to report earnings of ($0.04) per share for the current quarter, Zacks reports. Four analysts have issued estimates for Gastar Exploration’s earnings. Gastar Exploration posted earnings of ($0.08) per share in the same quarter last year, which would suggest a positive year over year growth rate of 50%. The firm is expected to announce its next quarterly earnings report on Thursday, November 2nd.

On average, analysts expect that Gastar Exploration will report full-year earnings of ($0.17) per share for the current year, with EPS estimates ranging from ($0.18) to ($0.16). For the next fiscal year, analysts forecast that the company will report earnings of ($0.16) per share, with EPS estimates ranging from ($0.20) to ($0.12). Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Gastar Exploration.

Gastar Exploration (NYSE:GST) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by $0.01. The firm had revenue of $22.60 million during the quarter, compared to analysts’ expectations of $18.78 million. During the same period in the previous year, the firm earned ($0.12) EPS. Gastar Exploration’s quarterly revenue was up 85.2% on a year-over-year basis.

Several research analysts have recently commented on GST shares. Williams Capital set a $1.00 price target on Gastar Exploration and gave the stock a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research lowered Gastar Exploration from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 18th. Finally, Seaport Global Securities lowered Gastar Exploration from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $3.00 to $1.00 in a research report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $1.50.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deprince Race & Zollo Inc. raised its position in shares of Gastar Exploration by 9.2% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,011,084 shares of the company’s stock worth $936,000 after acquiring an additional 85,100 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Gastar Exploration by 439.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 599,986 shares of the company’s stock worth $555,000 after acquiring an additional 488,849 shares in the last quarter. Rhumbline Advisers bought a new position in shares of Gastar Exploration in the 2nd quarter worth $163,000. Schwab Charles Investment Management Inc. raised its position in shares of Gastar Exploration by 124.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 540,300 shares of the company’s stock worth $501,000 after acquiring an additional 300,000 shares in the last quarter. Finally, California State Teachers Retirement System bought a new position in shares of Gastar Exploration in the 2nd quarter worth $286,000.

Shares of Gastar Exploration (GST) traded down 5.183% during trading on Friday, hitting $0.525. The stock had a trading volume of 1,207,724 shares. Gastar Exploration has a 12 month low of $0.38 and a 12 month high of $2.19. The stock has a 50-day moving average price of $0.70 and a 200 day moving average price of $1.13. The company’s market cap is $104.76 million.

About Gastar Exploration

Gastar Exploration Inc, an independent energy company, engages in the exploration, development, and production of oil, condensate, natural gas, and natural gas liquids in the United States. Its principal activities include the identification, acquisition, exploration, and development of oil and natural gas properties on unconventional reserves, such as shale resource plays.

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