Plains Exploration & Production Earnings Preview
Plains Exploration & Production (NYS: PXP) will try to beat its earnings estimates for the third consecutive quarter. The company will unveil its latest earnings on Thursday, Feb.23. Plains Exploration & Production is an independent oil and gas company that is engaged in acquiring, developing, exploiting, exploring, and producing oil and gas properties in the United States.
What analysts say:
- Buy, sell, or hold?: Analysts strongly back Plains Exploration & Production, with 12 out of 14 rating it a buy and the remainder rating it a hold. Analysts don't like Plains Exploration & Production as much as competitor Berry Petroleum overall. Analysts still rate the stock a moderate buy, but they are a bit more wary about it compared to three months ago.
- Revenue forecasts: On average, analysts predict $495.6 million in revenue this quarter. That would represent a rise of 21.4% from the year-ago quarter.
- Wall Street earnings expectations: The average analyst estimate is earnings of $0.43 per share. Estimates range from $0.16 to $0.55.
What our community says:
CAPS All-Stars are solidly backing the stock, with 96.4% giving it an outperform rating. Most of the community concurs with the All-Stars, with 96.4% granting it a rating of outperform. Even with a robust four out of five stars, Plains Exploration & Production's CAPS rating falls a little short of the community's upbeat outlook.
The company increased its gross margin by 6.4 percentage points in the last quarter. Revenue rose 29.4% while cost of sales rose 2.6% to $122.4 million from a year earlier.
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At the time this article was published
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