44 days have passed by since the last earnings report for Laredo Petroleum, Inc. (NYSE:LPI) and the new quarterly results look set to arrive in 59 days. The shares of LPI at the moment are trading at a volume of 5.68 million, which compares with its normal daily standard volume of 6025137 shares. This has led to the shares of the company declining by -2.92%, currently exchanging hands at $2.66 a share. LPI stock has been up by $6.37 (-70.54%) ever since it reached its 52-week high of $9.03 back in September 24, 2018. It has progressed below its 50-day moving average of $2.73 and is up 2.7% over the past week. The stock has retreated -25% since the last one arrived so the question here is that will the downbeat trend in that time frame continue leading up to its next earnings release, or is the LPI share price due for a breakout?
Laredo Petroleum, Inc. (LPI) Forecasts And Latest Quarter Earnings
Ahead of their fiscal third-quarter to be released on Monday, Nov 11, 2019, 12 analysts who are covering the company are estimating that it will record a profit of $0.18 per share, with analysts having different outlooks from $0.08 to $0.29. The current agreed outlook, when compared to the profit recorded last year, is at $0.27 a share, thus a decrease of -33.33% is expected. The profit view for a complete financial year for Laredo Petroleum, Inc. is expected to be around $0.74 in current year, a growth of nearly -20.43% from last year which was $0.93.
Analyzing The Earnings History Of Laredo Petroleum, Inc. (NYSE:LPI)
In the past few years, the LPI stock has been known to miss the Wall Street’s earnings projection. The company missed 66% of the time, according to the data pulled on their earnings, was able to meet predictions on 1 occasions and topped expectations 3 times. Looking at the past trend, the price of Laredo Petroleum, Inc. shares had sank following the release of their earnings in 16 of the last 30 quarters.
Looking back, here is how Laredo Petroleum, Inc. (LPI) stock reacted to earnings misses and beats. It gave investors reason to be bullish with the price going down after 1 of the last four earnings reports. The shares of Laredo Petroleum, Inc. recorded -4.82%, 12.46%, 1.58% and 4.21%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were -19.88%, 16.5%, 0.79% and -2.93%. Their post-earnings price movements have resulted in an average increase of 3.36% and an average decrease of -1.38% in Laredo Petroleum, Inc. on next day and 7th day, sequentially. LPI’s one month stock performance led to its shares declining by -6.67% with a return of -65.59% witnessed over the last 52 weeks.
Laredo Petroleum, Inc. (LPI) Post Earnings Announcement Drift (PEAD)
Back on July 31, 2019, Laredo Petroleum, Inc. (NYSE:LPI) released its Q2 results, in which it recorded EPS of $0.24 that exceeded consensus estimates of $0.21. After the earnings were reported, the price of LPI stock kicked off the session at $3.07 and remained in a range of $3.35 to $3.41 on the first day. The shares were priced at $3.16 at the close with a total volume of shares being 15432881.
On May 01, 2019, the Q1 earnings report was disclosed with EPS of $0.12. This was above the estimation of $0.09 per share. The stock price range of LPI was between $2.9 and $3.4 on the first-day post announcement, after opening the day at $2.87. The session came to close at $3.34 and there was a total volume of 11934836 shares.
February 13, 2019 was the day when its Q4 results were unveiled. The earnings came in at $0.16, missing the projected $0.24 per share. The very next day, LPI stock opened at $3.53 while staying in a range of $3.53 to $3.9. At the end, it moved to $3.85 a total volume of shares been 12124857.
In the year-ago Q3 earnings on November 05, 2018, the company saw profit per share of $0.27. That was worse than the $0.29 analysts had expected. Laredo Petroleum, Inc. share price started at $5.23 on the first full trading day post-earning and then exchanged hands between $5.3 and $5.98 throughout the session. The closing price of $5.69 came on the back of 10299454 shares in volume.