Zacks: Brokerages Expect SilverBow Resources Inc (SBOW) Will Announce Quarterly Sales of $77.25 Million

Equities research analysts forecast that SilverBow Resources Inc (NYSE:SBOW) will announce sales of $77.25 million for the current quarter, according to Zacks. Two analysts have provided estimates for SilverBow Resources’ earnings, with the highest sales estimate coming in at $79.50 million and the lowest estimate coming in at $75.00 million. SilverBow Resources posted sales of $58.69 million during the same quarter last year, which suggests a positive year-over-year growth rate of 31.6%. The company is expected to issue its next earnings report on Wednesday, February 27th.

On average, analysts expect that SilverBow Resources will report full-year sales of $246.35 million for the current fiscal year, with estimates ranging from $244.00 million to $248.70 million. For the next fiscal year, analysts forecast that the company will post sales of $344.90 million, with estimates ranging from $326.00 million to $363.80 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover SilverBow Resources.

SilverBow Resources (NYSE:SBOW) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.64). The company had revenue of $65.03 million during the quarter, compared to the consensus estimate of $61.10 million. SilverBow Resources had a net margin of 18.88% and a return on equity of 20.00%.

A number of analysts have issued reports on SBOW shares. ValuEngine downgraded shares of SilverBow Resources from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. SunTrust Banks downgraded shares of SilverBow Resources from a “buy” rating to a “hold” rating and reduced their target price for the stock from $37.00 to $30.00 in a report on Monday, September 24th. Finally, Zacks Investment Research downgraded shares of SilverBow Resources from a “buy” rating to a “hold” rating in a report on Thursday, September 27th.

NYSE SBOW traded up $0.08 on Friday, reaching $24.99. The company had a trading volume of 11,600 shares, compared to its average volume of 25,075. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market cap of $293.47 million, a P/E ratio of 4.11 and a beta of 0.44. SilverBow Resources has a 12 month low of $20.95 and a 12 month high of $34.76.

In other news, Director Marcus C. Rowland sold 12,000 shares of the business’s stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $28.71, for a total value of $344,520.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. California Public Employees Retirement System increased its holdings in shares of SilverBow Resources by 25.3% in the 2nd quarter. California Public Employees Retirement System now owns 8,906 shares of the company’s stock worth $257,000 after buying an additional 1,797 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in SilverBow Resources by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 90,455 shares of the company’s stock valued at $2,612,000 after purchasing an additional 2,379 shares during the last quarter. BlackRock Inc. grew its holdings in SilverBow Resources by 0.8% during the 3rd quarter. BlackRock Inc. now owns 370,192 shares of the company’s stock valued at $9,872,000 after purchasing an additional 2,777 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in SilverBow Resources by 9.2% during the 3rd quarter. Panagora Asset Management Inc. now owns 53,210 shares of the company’s stock valued at $1,419,000 after purchasing an additional 4,463 shares during the last quarter. Finally, Man Group plc grew its holdings in SilverBow Resources by 5.3% during the 3rd quarter. Man Group plc now owns 98,304 shares of the company’s stock valued at $2,622,000 after purchasing an additional 4,967 shares during the last quarter. Hedge funds and other institutional investors own 83.27% of the company’s stock.

SilverBow Resources Company Profile

SilverBow Resources, Inc, an energy company, engages in the exploration, development, and production of oil and gas from the Eagle Ford Shale in South Texas. As of December 31, 2017, it had proved reserves of 1.0 trillion cubic feet equivalent. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.

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