Zacks: Analysts Expect Bonanza Creek Energy Inc (NYSE:BCEI) to Announce $0.43 EPS

Equities research analysts expect that Bonanza Creek Energy Inc (NYSE:BCEI) will post $0.43 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Bonanza Creek Energy’s earnings, with estimates ranging from $0.18 to $0.61. Bonanza Creek Energy posted earnings per share of $1.62 in the same quarter last year, which would suggest a negative year-over-year growth rate of 73.5%. The company is scheduled to announce its next quarterly earnings report on Wednesday, August 5th.

On average, analysts expect that Bonanza Creek Energy will report full year earnings of $2.66 per share for the current fiscal year, with EPS estimates ranging from $2.16 to $3.09. For the next year, analysts expect that the firm will post earnings of $1.37 per share, with EPS estimates ranging from $1.21 to $1.59. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Bonanza Creek Energy.

Bonanza Creek Energy (NYSE:BCEI) last posted its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.03. Bonanza Creek Energy had a net margin of 50.70% and a return on equity of 16.10%. The company had revenue of $60.41 million during the quarter, compared to analyst estimates of $66.12 million.

BCEI has been the subject of several research analyst reports. TheStreet raised Bonanza Creek Energy from a “d+” rating to a “c-” rating in a research note on Thursday, May 7th. Stifel Nicolaus upped their price objective on shares of Bonanza Creek Energy from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, May 8th. ValuEngine cut shares of Bonanza Creek Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 3rd. KeyCorp lifted their price objective on Bonanza Creek Energy from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Finally, Imperial Capital raised their price target on Bonanza Creek Energy from $16.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $25.00.

A number of large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its holdings in Bonanza Creek Energy by 460.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,764 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 2,271 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Bonanza Creek Energy by 21.0% during the first quarter. BNP Paribas Arbitrage SA now owns 7,732 shares of the oil and gas producer’s stock worth $87,000 after purchasing an additional 1,343 shares during the period. Nisa Investment Advisors LLC acquired a new stake in Bonanza Creek Energy during the first quarter valued at approximately $107,000. Raymond James & Associates acquired a new position in shares of Bonanza Creek Energy in the 1st quarter worth approximately $120,000. Finally, Royal Bank of Canada lifted its position in shares of Bonanza Creek Energy by 96.7% during the 1st quarter. Royal Bank of Canada now owns 12,344 shares of the oil and gas producer’s stock worth $139,000 after buying an additional 6,069 shares during the period.

NYSE:BCEI traded up $1.19 during trading hours on Wednesday, hitting $15.25. 135,350 shares of the stock traded hands, compared to its average volume of 310,488. The firm has a 50 day moving average price of $17.56 and a 200 day moving average price of $17.34. The firm has a market cap of $313.84 million, a price-to-earnings ratio of 2.08 and a beta of 2.17. Bonanza Creek Energy has a fifty-two week low of $8.25 and a fifty-two week high of $26.75. The company has a current ratio of 1.71, a quick ratio of 1.64 and a debt-to-equity ratio of 0.09.

About Bonanza Creek Energy

Bonanza Creek Energy, Inc, an exploration and production company, focuses on the extraction of onshore oil and related liquids-rich natural gas in the United States. The company's primary oil and liquids-weighted assets are located in the Wattenberg Field in Colorado. As of December 31, 2018, it had proved reserves of 116.8 million barrel of oil equivalent.

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Earnings History and Estimates for Bonanza Creek Energy (NYSE:BCEI)

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