See feature article on LGCY below
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Will Legacy Reserves hit or miss earnings?
Investors will be waiting to see if the company hits or misses earnings projections after the next earnings release. Legacy Reserves LP (NASDAQ:LGCY) is slated to next post quarterly results on or around 2016-05-04. The company most recently reported earnings of $-0.33 against the Zacks Research consensus estimate of $-0.38 for the period ending on 2016-03-31. The result created a surprise factor of 13.16%, a difference of $0.05. A large surprise factor may trigger significant stock price swings immediately after an earnings report, or in the following days and weeks. As the next earnings date approaches, analysts may modify their models based on company announcements and Street sentiment. These have the ability be key indicators looking at whether results will meet or beat consensus projections.
Adding in past earnings trends, future earnings predictions and company issued and projected guidance, many covering analysts will also project future target numbers for the stocks they are tracking. These reports are sent to institutions to help assist with making investment decisions. These numbers are also available through different platforms to retail investors. As of this writing, the consensus price target (1 year) on shares of Legacy Reserves LP (NASDAQ:LGCY) stands at $1. This is based on 4 covering analysts tracked by Zacks Research. The analyst with the most positive view has the stock hitting $1, while the lowest target projection sees the stock hitting $1.
Checking on recommendations, 0 analysts have rated the stock a Strong Buy, 0 have rated it a Buy rating, 5 a Hold and 1 a Sell. All of these recommendations can be placed on a ratings scale from 1 to 5 to get to an average broker rating. A low number (1-2) indicates a consensus Buy, a middle number (2.5-3.5) indicates a Hold and any number over 4 would indicate a consensus Sell rating. At the time of writing Legacy Reserves LP shares have a consensus rating of 3.43.
Legacy Reserves LP Schedules Conference Call to Report First Quarter 2016 Results
MIDLAND, Texas, April 20, 2016 (GLOBE NEWSWIRE) — Legacy Reserves LP (“Legacy”) (Nasdaq: LGCY) will provide details of its first quarter 2016 operating and financial performance with its earnings report which is scheduled to be released on Wednesday, May 4, 2016, following the close of NASDAQ trading. A teleconference and webcast will be held on Thursday, May 5, 2016, beginning at 9:00 a.m. Central Time. Those wishing to participate in the conference call should dial 877-266-0479. A replay of the call will be available through Thursday, May 12, 2016, by dialing 855-859-2056 or 404-537-3406 and entering replay code 86768701. Those wishing to listen to the live or archived webcast via the Internet should go to the Investor Relations tab of our website at www.LegacyLP.com.
About Legacy Reserves LP
Legacy Reserves LP is a master limited partnership headquartered in Midland, Texas, focused on the acquisition and development of oil and natural gas properties primarily located in the Permian Basin, East Texas, Mid-Continent and Rocky Mountain regions of the United States. Additional information is available at www.LegacyLP.com.
CONTACT: Legacy Reserves LP
Dan Westcott
Executive Vice President and Chief Financial Officer
432-689-5200
Analyst Ratings Summary for LGCY
| 3/28/2016 | Robert W. Baird | Lower Price Target | Outperform -> Neutral | $25.00 -> $9.00 |    |
| 2/18/2016 | Wells Fargo | Downgrade | Market Perform -> Underperform | |
|
| 2/12/2016 | Ladenburg Thalmann | Downgrade | Buy -> Neutral | |
|
| 1/27/2016 | FBR & Co. | Downgrade | Outperform -> Market Perform | $3.00 -> $3.00 | |
| 12/18/2015 | Barclays | Reiterated Rating | Hold | |
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| 12/7/2015 | Stifel Nicolaus | Downgrade | Buy -> Hold | |
|
| 11/18/2015 | FBR & Co. | Lower Price Target | Outperform | $8.00 -> $6.00 | |
| 10/21/2015 | Bank of America | Downgrade | Neutral -> Underperform | $12.00 -> $4.00 | |
| 10/14/2015 | Wunderlich | Downgrade | Buy -> Hold | $13.00 -> $6.00 | |
| 10/12/2015 | FBR & Co. | Reiterated Rating | Outperform | $8.00 -> $14.00 | |
| 10/1/2015 | Barclays | Reiterated Rating | Hold | |
|
| 9/30/2015 | Barclays | Lower Price Target | Equal Weight | $9.00 -> $3.00 | |
| 9/14/2015 | Citigroup Inc. | Lower Price Target | Neutral | $9.50 -> $4.00 | |
| 8/13/2015 | JPMorgan Chase & Co. | Boost Price Target | $9.00 -> $12.00 | |
|
| 8/12/2015 | Oppenheimer | Downgrade | Market Perform -> Underperform | |
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| 8/7/2015 | RBC Capital | Reiterated Rating | Sector Perform | $13.00 -> $11.00 | |
| 8/7/2015 | Wunderlich | Lower Price Target | Buy | $14.00 -> $13.00 | |
| 6/15/2015 | Wunderlich | Initiated Coverage | Buy | $15.00 -> $14.00 | |
| 5/8/2015 | MLV & Co. | Set Price Target | Buy | $14.00 | |
| 4/21/2015 | Stifel Nicolaus | Boost Price Target | Buy | $14.00 -> $15.00 | |
| 4/1/2015 | JPMorgan Chase & Co. | Lower Price Target | Neutral | $12.00 -> $10.00 | |
| 3/26/2015 | Citigroup Inc. | Lower Price Target | Neutral | $22.50 -> $9.50 | |
| 2/27/2015 | MLV & Co. | Set Price Target | Buy | $14.00 | |
| 2/27/2015 | MLV & Co. | Reiterated Rating | Buy | $14.00 | |
| 2/4/2015 | Barclays | Reiterated Rating | Equal Weight | $9.00 | |
| 1/22/2015 | Raymond James | Downgrade | Outperform -> Market Perform | $20.00 | |
| 12/19/2014 | JPMorgan Chase & Co. | Downgrade | Overweight -> Neutral | $27.00 -> $14.00 | |
| 12/17/2014 | RBC Capital | Downgrade | Outperform -> Sector Perform | $28.00 -> $13.00 | |
| 12/16/2014 | Robert W. Baird | Downgrade | Outperform -> Neutral | $25.00 -> $9.00 | |
| 12/15/2014 | Oppenheimer | Downgrade | Outperform -> Market Perform | $27.00 | |
| 12/8/2014 | Wells Fargo | Downgrade | Outperform -> Market Perform | |
|
| 11/19/2014 | Citigroup Inc. | Lower Price Target | Neutral | $32.50 -> $22.50 | |
| 11/3/2014 | Bank of America | Upgrade | Neutral -> Buy | |
|
| 10/31/2014 | RBC Capital | Downgrade | Top Pick -> Outperform | $36.00 -> $28.00 | |
| 10/31/2014 | MLV & Co. | Lower Price Target | Hold | $30.00 -> $28.00 | |
| 10/30/2014 | Stifel Nicolaus | Reiterated Rating | Buy | $33.00 -> $27.00 | |
| 10/6/2014 | Wunderlich | Upgrade | Hold -> Buy | $31.00 | |
| 7/29/2014 | Citigroup Inc. | Downgrade | Buy -> Neutral | $27.00 -> $32.50 | |
| 6/12/2014 | Raymond James | Reiterated Rating | Outperform | $29.00 -> $32.00 | |
| 5/28/2014 | RBC Capital | Upgrade | Outperform -> Top Pick | $31.00 -> $36.00 | |
| 5/27/2014 | JPMorgan Chase & Co. | Upgrade | Underweight -> Neutral | $25.00 -> $29.00 | |
| 5/20/2014 | Wunderlich | Boost Price Target | Hold | $26.00 -> $31.00 | |
| 5/9/2014 | Robert W. Baird | Boost Price Target | $30.00 -> $37.00 | |
|
| 5/7/2014 | Oppenheimer | Upgrade | Market Perform -> Outperform | $29.00 | |
| 5/7/2014 | Robert W. Baird | Upgrade | Neutral -> Outperform | $30.00 | |
| 5/5/2014 | Bank of America | Reiterated Rating | Neutral | $28.00 |
Sources- Finviz, Franklin Independent, Marketbeat and Broad Street
Broad street alerts has not been compensated for the mention of any publicly traded companies in this article nor do we own positions in any of the companies in this article.
Broad Street Alerts was previously compensated eighteen thousand five hundred dollars by star media llc for the mention of FNJN however, that contract has expired.