Synergy (SYRG) Misses Revenue Forecasts

Synergy Resources Corporation (SYRG) dropped $0.03 to $12.15 in pre-market trading Thursday after it reported fiscal results for the second quarter.

In its quarterly report, the oil and gas company said it earned $0.05 per share, in-line with the $0.05 per share analysts were expecting. Revenue rose 3.0% to $23.7 million from $23 million yoy, below views for $28.72 million. Net income was $4.7 million or $0.05/shr, down from $5.2 million or $0.07/shr in the same year-ago period.

On valuation measures, Synergy Resources Corp. shares, which currently have an average 3-month trading volume of 1.44 million shares, trade at a trailing-12 P/E of 22.07 and a forward P/E of 29.71. The median Wall Street price target on the name is $15.00 with a high target of $16.50. Currently ticker boasts 14 ‘Buy’ endorsements, compared to 1 ’Hold’ and no ‘Sell’.

Profitability-wise, SYRG has a t-12 profit and operating margin of 34.44% and 52.73%, respectively. The $1.04 billion market cap company reported $218.5 million in cash in its most recent quarter.

SYRG currently prints a one year return of 20.47% and a year-to-date loss of 2.87%.

The chart below shows where the equity has traded over the last 52 weeks.

Synergy Resources Corp. is a Platteville, Colorado-based company focused in the exploration and production of oil and natural gas properties primarily located in the Denver-Julesburg Basin in northeast Colorado.

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