Ring Energy, Inc. (NYSE:REI) is expected to report quarterly sales of $58.89 million
Stock analysts expect Ring Energy, Inc. (NYSE:REI – Get a rating) will post sales of $58.89 million for the current quarter, according to Zacks. Two analysts provided earnings estimates for Ring Energy, with the lowest sales estimate at $58.77 million and the highest estimate at $59.00 million. Ring Energy posted sales of $47.76 million in the same quarter last year, suggesting a positive year-over-year growth rate of 23.3%. The company is expected to release its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect Ring Energy to report annual sales of $240.73 million for the current fiscal year, with estimates ranging from $227.46 million to $254.00 million. For next year, analysts expect the company to record sales of $302.00 million. Zacks Investment Research’s sell calculations are an average average based on a survey of sell-side analysts who follow Ring Energy.
Separately, StockNews.com launched coverage on Ring Energy in a report on Thursday, March 31. They issued a “hold” rating for the company.
REI opened at $4.66 on Thursday. Ring Energy has a 52-week low of $1.81 and a 52-week high of $5.09. The company has a market capitalization of $497.23 million, a price-earnings ratio of 21.18 and a beta of 1.86. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt ratio of 0.91. The company’s fifty-day moving average is $4.28.
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About Ring Energy (Get a rating)
Ring Energy, Inc, an exploration and production company, is engaged in the acquisition, exploration, development and production of oil and natural gas in Texas and New Mexico. As of December 31, 2021, the company’s proven reserves consisted of approximately 77.8 million barrels of oil equivalent. It also held interests in 18,882 net developed acres and 1,406 net undeveloped acres in Andrews and Gaines counties, Texas; 18,437 net developed acres in Culberson and Reeves counties, Texas; and 13,662 net developed acres and 11,993 net undeveloped acres in Yoakum, Runnels and Coke counties, Texas, and Lea County, New Mexico.
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