Analysts expect Brigham Minerals, Inc. (NYSE: MNRL – Get Rating) to post earnings per share (EPS) of $0.69 for the current quarter, according to Zacks. Four analysts provided earnings estimates for Brigham Minerals, with the highest EPS estimate of $1.11 and the lowest estimate of $0.43. Brigham Minerals reported earnings of $0.25 per share in the same quarter last year, suggesting a positive year-over-year growth rate of 176%. The company is expected to release its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect Brigham Minerals to report annual earnings of $3.04 per share for the current fiscal year, with EPS estimates ranging from $2.02 to $4.34. For the next fiscal year, analysts expect the company to post earnings of $2.59 per share, with EPS estimates ranging from $1.44 to $4.50. Zacks Investment Research earnings per share averages are an average based on a survey of sell-side research firms that provide coverage for Brigham Minerals.
Brigham Minerals (NYSE: MNRL – Get Rating) last released its results on Wednesday, February 23. The company reported earnings per share (EPS) of $0.35 for the quarter, missing analyst consensus estimates of $0.36 per ($0.01). Brigham Minerals had a return on equity of 10.56% and a net margin of 36.54%. The company posted revenue of $47.67 million in the quarter, compared to analyst estimates of $47.23 million. During the same period of the previous year, the company achieved EPS of $0.07.
MNRL has been the subject of several recent research reports. Barclays raised its price target on Brigham Minerals from $25.00 to $29.00 in a Thursday, April 28 research note. Piper Sandler raised her price target on Brigham Minerals to $32.00 and gave the company an “na” rating in a Wednesday, May 18 research note. Zacks Investment Research upgraded Brigham Minerals from a “hold” rating to a “strong-buy” rating and set a price target of $33.00 for the company in a research note on Friday. Raymond James raised his price target on Brigham Minerals from $41.00 to $44.00 in a Tuesday, May 24 research note. Finally, TheStreet upgraded Brigham Minerals from a “c+” to a “b” rating in a Monday, April 18 research note. One equity research analyst gave the stock a hold rating, two gave the company a buy rating and two gave the company a strong buy rating. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $32.67.
In related news, Director Pbra, Llc sold 134,248 shares of the company in a trade that took place on Monday, March 21. The stock was sold at an average price of $24.62, for a total transaction of $3,305,185.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Insiders sold 780,440 shares of the company valued at $19,456,167 in the past ninety days. 3.92% of the shares are currently held by insiders.
Major investors have recently changed their positions in the company. Dimensional Fund Advisors LP increased its holdings in Brigham Minerals by 875.6% in the third quarter. Dimensional Fund Advisors LP now owns 214,132 shares of the company worth $4,103,000 after acquiring an additional 192,184 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in Brigham Minerals to 97.0% in the fourth quarter. Qube Research & Technologies Ltd now owns 42,874 shares in the company worth $904,000 after acquiring 21,113 additional shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Brigham Minerals by 254.4% in the third quarter. Cubist Systematic Strategies LLC now owns 49,769 shares of the company worth $954,000 after acquiring 35,725 additional shares in the last quarter. Moors & Cabot Inc. bought a new position in Brigham Minerals stock in the third quarter valued at around $225,000. Finally, Invesco Ltd. increased its equity stake in Brigham Minerals by 4.9% in the third quarter. Invesco Ltd. now owns 97,391 shares of the company valued at $1,866,000 after purchasing an additional 4,553 shares last quarter. Institutional investors and hedge funds hold 68.81% of the company’s shares.
MNRL traded $0.34 on Friday, reaching $30.40. The stock had trading volume of 395,943 shares, compared to an average volume of 556,176. Brigham Minerals has a fifty-two-week low of $16.51 and a fifty-two-week high of $30.63. . The company has a 50-day moving average of $26.46 and a 200-day moving average of $23.80. The company has a current ratio of 3.55, a quick ratio of 3.55 and a debt ratio of 0.13. The company has a market capitalization of $1.84 billion, a price-earnings ratio of 19.87 and a beta of 1.97.
The company also recently announced a None dividend, which was paid on Friday, May 27. Investors of record on Friday, May 20 received a dividend of $0.60 per share. The ex-dividend date was Thursday, May 19. This represents a return of 2.2%. This is a boost from Brigham Minerals’ previous None dividend of $0.14. Brigham Minerals’ dividend payout ratio (DPR) is currently 41.83%.
Brigham Minerals Company Profile (Get an evaluation)
Brigham Minerals, Inc. owns and operates a portfolio of mineral and royalty interests in the continental United States. The company primarily owns mining and royalty interests in the Delaware and Midland Basins in West Texas and New Mexico; Southcentral Oklahoma Oil Province and Sooner Trend’s Canadian Anadarko Basin and Kingfisher Counties play in Oklahoma’s Anadarko Basin; the Denver-Julesburg Basin in Colorado; and Wyoming and the Williston Basin in North Dakota.
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