Goodrich Petroleum Corporation (GDP) Expected to Announce Quarterly Sales of $31.18 Million

Equities analysts predict that Goodrich Petroleum Corporation (NASDAQ:GDP) will report $31.18 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Goodrich Petroleum’s earnings, with estimates ranging from $28.00 million to $34.00 million. Goodrich Petroleum posted sales of $11.06 million during the same quarter last year, which suggests a positive year-over-year growth rate of 181.9%. The company is scheduled to announce its next earnings report on Thursday, March 7th.

According to Zacks, analysts expect that Goodrich Petroleum will report full year sales of $85.22 million for the current year, with estimates ranging from $81.00 million to $89.00 million. For the next financial year, analysts anticipate that the firm will report sales of $153.73 million, with estimates ranging from $147.00 million to $162.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Goodrich Petroleum.

Goodrich Petroleum (NASDAQ:GDP) last issued its quarterly earnings data on Thursday, November 8th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). The company had revenue of $24.33 million for the quarter, compared to the consensus estimate of $24.15 million.

A number of equities analysts have recently issued reports on GDP shares. Ifs Securities reaffirmed an “outperform” rating on shares of Goodrich Petroleum in a research report on Monday, October 29th. Capital One Financial downgraded Goodrich Petroleum from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th.

Shares of GDP stock opened at $13.90 on Friday. Goodrich Petroleum has a 12-month low of $9.92 and a 12-month high of $15.75.

About Goodrich Petroleum

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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