$0.13 Earnings Per Share Expected for Centennial Resource Development Inc (CDEV) This Quarter

Wall Street brokerages expect that Centennial Resource Development Inc (NASDAQ:CDEV) will report earnings per share (EPS) of $0.13 for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Centennial Resource Development’s earnings. The lowest EPS estimate is $0.06 and the highest is $0.20. Centennial Resource Development reported earnings per share of $0.24 during the same quarter last year, which suggests a negative year over year growth rate of 45.8%. The business is expected to issue its next earnings report on Monday, August 5th.

On average, analysts expect that Centennial Resource Development will report full-year earnings of $0.43 per share for the current year, with EPS estimates ranging from $0.19 to $0.65. For the next year, analysts anticipate that the business will post earnings of $0.74 per share, with EPS estimates ranging from $0.32 to $1.58. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Centennial Resource Development.

Centennial Resource Development (NASDAQ:CDEV) last released its quarterly earnings data on Monday, May 6th. The oil and natural gas company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.04. The firm had revenue of $214.57 million for the quarter, compared to analyst estimates of $211.08 million. Centennial Resource Development had a net margin of 22.43% and a return on equity of 6.51%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 EPS.

CDEV has been the topic of several analyst reports. Barclays lowered shares of Centennial Resource Development from an “overweight” rating to an “underweight” rating and dropped their price target for the stock from $22.00 to $14.00 in a research note on Wednesday, January 16th. Zacks Investment Research upgraded shares of Centennial Resource Development from a “sell” rating to a “hold” rating in a research note on Wednesday, February 6th. Ifs Securities restated a “strong-buy” rating on shares of Centennial Resource Development in a research note on Sunday, February 3rd. BidaskClub lowered shares of Centennial Resource Development from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 12th. Finally, BMO Capital Markets lowered shares of Centennial Resource Development from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $20.00 to $10.00 in a research note on Tuesday, February 26th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.63.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Centennial Resource Development by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 15,754,084 shares of the oil and natural gas company’s stock worth $344,226,000 after buying an additional 370,395 shares during the period. BlackRock Inc. boosted its holdings in Centennial Resource Development by 7.2% in the 4th quarter. BlackRock Inc. now owns 8,453,179 shares of the oil and natural gas company’s stock valued at $93,155,000 after purchasing an additional 568,155 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Centennial Resource Development by 56.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,574,473 shares of the oil and natural gas company’s stock valued at $49,003,000 after purchasing an additional 2,014,068 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in Centennial Resource Development by 17.8% in the 1st quarter. Frontier Capital Management Co. LLC now owns 5,066,515 shares of the oil and natural gas company’s stock valued at $44,535,000 after purchasing an additional 764,828 shares during the period. Finally, Lord Abbett & CO. LLC boosted its holdings in Centennial Resource Development by 12.5% in the 4th quarter. Lord Abbett & CO. LLC now owns 3,274,343 shares of the oil and natural gas company’s stock valued at $36,083,000 after purchasing an additional 364,753 shares during the period.

Shares of CDEV traded down $0.12 during mid-day trading on Friday, hitting $9.98. 3,110,800 shares of the company’s stock were exchanged, compared to its average volume of 3,522,433. Centennial Resource Development has a twelve month low of $8.28 and a twelve month high of $23.12. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.68 and a beta of 1.94. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.21.

About Centennial Resource Development

Centennial Resource Development, Inc, an independent oil and natural gas company, focuses on the development of unconventional oil and associated liquids-rich natural gas reserves in the United States. The company's assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks primarily in Reeves County in West Texas and Lea County in New Mexico.

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Earnings History and Estimates for Centennial Resource Development (NASDAQ:CDEV)

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