Analysts are weighing in on how Cobalt International Energy, Inc. (NYSE:CIE), might perform in the near term. Wall Street analysts have a much less favorable assessment of the stock, with a mean rating of 2.5. The stock is rated as buy by 0 analysts, with 0 outperform and 0 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 9.00 analysts offering adjusted EPS forecast have a consensus estimate of $-0.13 a share, which would compare with $-0.17 in the same quarter last year. They have a high estimate of $-0.06 and a low estimate of $-0.20. Revenue for the period is expected to total nearly $4.53M.
For the full year, 9.00 Wall Street analysts forecast this company would deliver earnings of -0.43 per share, with a high estimate of $-0.27 and a low estimate of $-0.66. It had reported earnings per share of $-0.60 in the corresponding quarter of the previous year. Revenue for the period is expected to total nearly $31.72M.
The analysts project the company to maintain annual growth of around 3.72% 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 10 analysts Data provided by Thomson/First Call tracks, the 12-month average price target for CIE is $6.30 but some analysts are projecting the price to go as high as $11.00. If the optimistic analysts are correct, that represents a 518 percent upside potential from the recent closing price of $1.78. Some sell-side analysts, particularly the bearish ones, have called for $3.00 price targets on shares of Cobalt International Energy, Inc. (NYSE:CIE).
In the last reported results, the company reported earnings of $-0.17 per share, while analysts were calling for share earnings of $-0.19. It was an earnings surprise of 10.50%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.
Cobalt International Energy, Inc., through its subsidiaries, operates as an oil and gas exploration and production company primarily in the deepwater U.S. Gulf of Mexico. The company holds interests in the North Platte, Shenandoah, Anchor, and Heidelberg fields located in the U.S. Gulf of Mexico; and the Diaba block located offshore Gabon. As of December 31, 2015, it had net proved undeveloped reserves of 5.6 million barrels (MMBbls) of oil; 0.3 MMBbls of natural gas liquids; and 1.8 billion cubic feet of natural gas. The company was founded in 2005 and is based in Houston, Texas.