Brokers Issue Forecasts for PEDEVCO’s Q3 Earnings (NYSE:PED)

PEDEVCO Corp. (NYSE:PED) – Equities research analysts at Roth Capital lowered their Q3 2024 earnings per share estimates for PEDEVCO in a research note issued to investors on Tuesday, October 22nd. Roth Capital analyst J. White now forecasts that the company will earn $0.02 per share for the quarter, down from their prior estimate of $0.03. The consensus estimate for PEDEVCO’s current full-year earnings is $0.08 per share. Roth Capital also issued estimates for PEDEVCO’s FY2024 earnings at $0.06 EPS, Q4 2025 earnings at $0.02 EPS and FY2025 earnings at $0.07 EPS.

PEDEVCO (NYSE:PED) last posted its earnings results on Wednesday, August 14th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The firm had revenue of $11.81 million for the quarter, compared to analyst estimates of $9.05 million. PEDEVCO had a return on equity of 0.38% and a net margin of 1.12%.

Other analysts have also issued reports about the company. StockNews.com assumed coverage on PEDEVCO in a report on Friday, October 18th. They issued a “sell” rating on the stock. Alliance Global Partners assumed coverage on PEDEVCO in a report on Wednesday, July 17th. They issued a “buy” rating and a $1.75 price objective on the stock.

PEDEVCO Stock Down 1.6 %

PEDEVCO stock opened at $0.95 on Thursday. PEDEVCO has a 52 week low of $0.61 and a 52 week high of $1.10. The business’s 50-day moving average price is $0.92 and its 200 day moving average price is $0.93.

PEDEVCO Company Profile

PEDEVCO Corp., an oil and gas company, focuses on the acquisition, development, and production of oil and natural gas assets in the United States. It holds interests in the Permian Basin asset covering an area of approximately 22,721 net acres located in New Mexico; and D-J Basin asset covering an area of approximately 19,214 net acres located in Wyoming.