Analysts are weighing in on how Synergy Resources Corp (NYSEMKT:SYRG) , might perform in the near term. Wall Street analysts have a much favorable assessment of the stock, with a mean rating of 1.9. The stock is rated as buy by 15 analysts, with 2 outperform and 4 hold rating. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for strong sell.
For the current quarter, the 17.00 analysts offering adjusted EPS forecast have a consensus estimate of $-0.01 a share, which would compare with $0.04 in the same quarter last year. They have a high estimate of $0.01 and a low estimate of $-0.03. Revenue for the period is expected to total nearly $26.21M.
For the full year, 20.00 Wall Street analysts forecast this company would deliver earnings of -0.05 per share, with a high estimate of $0.02 and a low estimate of $-0.14. It had reported earnings per share of $0.00 in the corresponding quarter of the previous year. Revenue for the period is expected to total nearly $113.47M.
The analysts project the company to maintain annual growth of around 0.00% percent over the next five years as compared to an average growth rate of 8.79% percent expected for its competitors in the same industry.
Among the 21 analysts Data provided by Thomson/First Call tracks, the 12-month average price target for SYRG is $8.65 but some analysts are projecting the price to go as high as $13.00. If the optimistic analysts are correct, that represents a 92 percent upside potential from the recent closing price of $6.78. Some sell-side analysts, particularly the bearish ones, have called for $6.00 price targets on shares of Synergy Resources Corp (NYSEMKT:SYRG) .
In the last reported results, the company reported earnings of $0.04 per share, while analysts were calling for share earnings of $0.01. It was an earnings surprise of 300.00%percent. In the matter of earnings surprises, the term Cockroach Effect is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.
Synergy Resources Corporation engages in the acquisition, development, exploitation, exploration, and production of oil and natural gas properties primarily located in the Denver-Julesburg Basin in Colorado. As of December 31, 2015, the company had approximately 349,000 net acres under lease, which are located in the Wattenberg Field of the Denver-Julesburg Basin; and operated 369 net producing wells. It also has mineral assets in Yuma and Washington Counties, Colorado. Synergy Resources Corporation is based in Denver, Colorado.