Ring Energy Inc (REI, Financial) is set to release its Q3 2024 earnings on Nov 7, 2024. The consensus estimate for Q3 2024 revenue is $86.74 million, and the earnings are expected to come in at $0.09 per share. The full year 2024's revenue is expected to be $370.71 million and the earnings are expected to be $0.30 per share. More detailed estimate data can be found on the Forecast page.
Ring Energy Inc (REI, Financial) Estimates Trends
Over the past 90 days, revenue estimates for Ring Energy Inc (REI) have seen a decline. For the full year 2024, estimates have been adjusted from $379.49 million to $370.71 million. For 2025, estimates slightly decreased from $376.61 million to $376.58 million. Earnings estimates have also been revised downward; for the full year 2024, they dropped from $0.44 per share to $0.30 per share, and for 2025, from $0.51 per share to $0.38 per share.
Ring Energy Inc (REI, Financial) Reported History
In the previous quarter of 2024-06-30, Ring Energy Inc's (REI) actual revenue was $99.14 million, which beat analysts' revenue expectations of $98.532 million by 0.62%. Ring Energy Inc's (REI) actual earnings were $0.11 per share, which missed analysts' earnings expectations of $0.127 per share by -13.39%. After releasing the results, Ring Energy Inc (REI) was up by 3.64% in one day.
Ring Energy Inc (REI, Financial) 12 Month Price Targets
Based on the one-year price targets offered by 2 analysts, the average target price for Ring Energy Inc (REI) is $3 with a high estimate of $3 and a low estimate of $3. The average target implies an upside of 97.37% from the current price of $1.52.
Based on GuruFocus estimates, the estimated GF Value for Ring Energy Inc (REI, Financial) in one year is $1.91, suggesting an upside of 25.66% from the current price of $1.52.
Based on the consensus recommendation from 3 brokerage firms, Ring Energy Inc's (REI, Financial) average brokerage recommendation is currently 2.7, indicating a "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
