Zacks: Analysts Anticipate Centennial Resource Development Inc (CDEV) Will Post Earnings of $0.26 Per Share

Equities analysts predict that Centennial Resource Development Inc (NASDAQ:CDEV) will report $0.26 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Centennial Resource Development’s earnings. The lowest EPS estimate is $0.20 and the highest is $0.31. Centennial Resource Development posted earnings of $0.11 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 136.4%. The firm is expected to report its next earnings report on Monday, February 25th.

According to Zacks, analysts expect that Centennial Resource Development will report full-year earnings of $0.92 per share for the current year, with EPS estimates ranging from $0.87 to $0.97. For the next year, analysts forecast that the company will post earnings of $1.37 per share, with EPS estimates ranging from $0.97 to $1.93. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that that provide coverage for Centennial Resource Development.

Centennial Resource Development (NASDAQ:CDEV) last announced its earnings results on Wednesday, November 7th. The oil and natural gas company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.04). Centennial Resource Development had a net margin of 23.90% and a return on equity of 6.57%. The company had revenue of $234.88 million during the quarter, compared to the consensus estimate of $239.43 million. The company’s revenue was up 110.4% compared to the same quarter last year.

Several analysts recently commented on the company. Credit Suisse Group cut Centennial Resource Development from an “outperform” rating to a “neutral” rating and set a $22.00 target price on the stock. in a report on Monday. Zacks Investment Research cut Centennial Resource Development from a “buy” rating to a “hold” rating in a report on Friday. ValuEngine cut Centennial Resource Development from a “hold” rating to a “sell” rating in a report on Thursday, November 8th. BidaskClub cut Centennial Resource Development from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Finally, Royal Bank of Canada set a $30.00 target price on Centennial Resource Development and gave the company a “buy” rating in a report on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $24.89.

CDEV stock traded down $0.79 during trading on Thursday, hitting $16.30. The company had a trading volume of 479,864 shares, compared to its average volume of 2,284,632. Centennial Resource Development has a one year low of $15.78 and a one year high of $23.12. The stock has a market capitalization of $5.12 billion, a PE ratio of 58.21 and a beta of 1.51. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.79 and a quick ratio of 0.79.

Institutional investors have recently bought and sold shares of the business. First Interstate Bank bought a new position in shares of Centennial Resource Development during the 3rd quarter worth approximately $133,000. Confluence Investment Management LLC bought a new position in shares of Centennial Resource Development during the 3rd quarter worth approximately $208,000. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Centennial Resource Development during the 2nd quarter worth approximately $172,000. CIBC Asset Management Inc bought a new position in shares of Centennial Resource Development during the 3rd quarter worth approximately $214,000. Finally, US Bancorp DE bought a new position in shares of Centennial Resource Development during the 3rd quarter worth approximately $239,000. Hedge funds and other institutional investors own 94.62% of the company’s stock.

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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