Analysts expect Torchlight Energy Resources Inc (NASDAQ:TRCH) to announce sales of $320,000.00 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Torchlight Energy Resources’ earnings, with the lowest sales estimate coming in at $130,000.00 and the highest estimate coming in at $500,000.00. The business is scheduled to issue its next quarterly earnings report on Friday, March 15th.
On average, analysts expect that Torchlight Energy Resources will report full year sales of $1.51 million for the current financial year, with estimates ranging from $1.02 million to $2.00 million. For the next year, analysts forecast that the firm will post sales of $2.35 million, with estimates ranging from $2.04 million to $2.65 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Torchlight Energy Resources.
Several brokerages have recently weighed in on TRCH. Noble Financial reaffirmed a “buy” rating and issued a $1.45 target price on shares of Torchlight Energy Resources in a research report on Friday, February 22nd. Zacks Investment Research raised Torchlight Energy Resources from a “hold” rating to a “buy” rating and set a $1.25 target price for the company in a research report on Saturday, January 26th.
Shares of NASDAQ TRCH opened at $1.56 on Friday. Torchlight Energy Resources has a 1-year low of $0.53 and a 1-year high of $1.98. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.76.
Torchlight Energy Resources Company Profile
Torchlight Energy Resources, Inc, through its subsidiaries, engages in the acquisition, exploration, exploitation, and/or development of oil and natural gas properties in the United States. As of December 31, 2017 it had interests in four oil and gas projects, including the Orogrande project in Hudspeth County, Texas; Hazel project in Sterling, Tom Green, and Irion Counties, Texas; Winkler project in Winkler County, Texas; and Hunton wells in partnership with Husky Ventures in Central Oklahoma.
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