Goodrich Petroleum Corporation (NASDAQ:GDP) Expected to Post Earnings of -$0.09 Per Share

Wall Street brokerages expect Goodrich Petroleum Corporation (NASDAQ:GDP) to announce earnings per share (EPS) of ($0.09) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Goodrich Petroleum’s earnings, with the lowest EPS estimate coming in at ($0.19) and the highest estimate coming in at $0.02. Goodrich Petroleum reported earnings per share of $0.34 during the same quarter last year, which would suggest a negative year-over-year growth rate of 126.5%. The company is scheduled to issue its next quarterly earnings results on Tuesday, August 4th.

On average, analysts expect that Goodrich Petroleum will report full year earnings of ($0.03) per share for the current year, with EPS estimates ranging from ($0.36) to $0.34. For the next financial year, analysts forecast that the company will post earnings of $1.04 per share, with EPS estimates ranging from $0.90 to $1.17. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Goodrich Petroleum.

Goodrich Petroleum (NASDAQ:GDP) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The business had revenue of $28.95 million for the quarter, compared to analysts’ expectations of $26.34 million.

A number of brokerages have commented on GDP. Roth Capital upgraded shares of Goodrich Petroleum from a “neutral” rating to a “buy” rating in a report on Tuesday, May 5th. Capital One Financial raised shares of Goodrich Petroleum from an “equal weight” rating to an “overweight” rating in a research report on Monday, March 16th.

GDP stock traded down $0.57 during trading on Friday, reaching $6.53. The stock had a trading volume of 50,193 shares, compared to its average volume of 43,510. Goodrich Petroleum has a 1-year low of $2.39 and a 1-year high of $13.34. The firm has a fifty day moving average price of $7.56 and a 200 day moving average price of $7.07.

Goodrich Petroleum Company Profile

Goodrich Petroleum Corporation, an independent oil and natural gas company, engages in the exploration, development, and production of oil and natural gas. It primarily holds interests in the Haynesville Shale Trend in northwest Louisiana and East Texas; Tuscaloosa Marine Shale Trend located in southwest Mississippi and southeast Louisiana; and the Eagle Ford Shale Trend situated in South Texas.

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