$33.76 Million in Sales Expected for Goodrich Petroleum Corporation (NASDAQ:GDP) This Quarter

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Analysts expect Goodrich Petroleum Corporation (NASDAQ:GDP) to post $33.76 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Goodrich Petroleum’s earnings, with estimates ranging from $31.60 million to $35.94 million. Goodrich Petroleum reported sales of $33.91 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.4%. The firm is expected to issue its next quarterly earnings report on Tuesday, March 3rd.

On average, analysts expect that Goodrich Petroleum will report full year sales of $123.92 million for the current financial year, with estimates ranging from $119.80 million to $132.16 million. For the next year, analysts forecast that the business will post sales of $144.39 million, with estimates ranging from $133.90 million to $156.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Goodrich Petroleum.

Goodrich Petroleum (NASDAQ:GDP) last announced its earnings results on Thursday, November 7th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.18). The company had revenue of $27.17 million for the quarter, compared to analyst estimates of $33.55 million.

Separately, Seaport Global Securities reaffirmed a “buy” rating on shares of Goodrich Petroleum in a report on Thursday, October 10th.

Shares of GDP stock traded up $0.11 during midday trading on Friday, hitting $9.93. 29,600 shares of the company were exchanged, compared to its average volume of 18,989. The firm has a 50 day moving average price of $9.64. Goodrich Petroleum has a 52 week low of $8.70 and a 52 week high of $15.24.

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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