Amplify Energy Corp. (NYSE:AMPY) to Post Q3 2024 Earnings of $0.32 Per Share, Roth Capital Forecasts

Amplify Energy Corp. (NYSE:AMPY) – Stock analysts at Roth Capital dropped their Q3 2024 earnings per share estimates for Amplify Energy in a research note issued on Friday, October 11th. Roth Capital analyst J. White now expects that the company will post earnings of $0.32 per share for the quarter, down from their prior estimate of $0.38. The consensus estimate for Amplify Energy’s current full-year earnings is $1.16 per share. Roth Capital also issued estimates for Amplify Energy’s Q4 2024 earnings at $0.40 EPS, FY2024 earnings at $1.13 EPS, Q1 2025 earnings at $0.42 EPS, Q2 2025 earnings at $0.34 EPS, Q3 2025 earnings at $0.41 EPS, Q4 2025 earnings at $0.55 EPS and FY2025 earnings at $1.71 EPS.

Separately, Alliance Global Partners boosted their price objective on Amplify Energy from $9.00 to $9.50 and gave the company a “buy” rating in a report on Friday, August 9th.

Amplify Energy Stock Up 2.0 %

Shares of Amplify Energy stock opened at $7.04 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.30. The firm has a market cap of $278.87 million, a P/E ratio of 9.64 and a beta of 1.94. Amplify Energy has a fifty-two week low of $3.56 and a fifty-two week high of $8.15. The business has a 50-day moving average price of $6.79 and a 200 day moving average price of $6.76.

Amplify Energy (NYSE:AMPY) last announced its earnings results on Wednesday, August 7th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The business had revenue of $79.50 million for the quarter, compared to analysts’ expectations of $79.62 million. Amplify Energy had a return on equity of 7.40% and a net margin of 8.95%. During the same period in the previous year, the firm posted $0.24 earnings per share.

Hedge Funds Weigh In On Amplify Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC boosted its position in shares of Amplify Energy by 2.9% during the first quarter. Janney Montgomery Scott LLC now owns 79,642 shares of the company’s stock worth $526,000 after buying an additional 2,274 shares during the period. Fortitude Family Office LLC boosted its position in shares of Amplify Energy by 167.5% during the second quarter. Fortitude Family Office LLC now owns 4,028 shares of the company’s stock worth $27,000 after buying an additional 2,522 shares during the period. Innealta Capital LLC acquired a new position in shares of Amplify Energy during the second quarter worth approximately $26,000. Mackenzie Financial Corp boosted its position in shares of Amplify Energy by 27.9% during the second quarter. Mackenzie Financial Corp now owns 17,347 shares of the company’s stock worth $118,000 after buying an additional 3,780 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Amplify Energy by 4.3% during the second quarter. Rhumbline Advisers now owns 99,236 shares of the company’s stock worth $673,000 after buying an additional 4,050 shares during the period. 42.84% of the stock is currently owned by institutional investors and hedge funds.

About Amplify Energy

Amplify Energy Corp., together with its subsidiaries, engages in the acquisition, development, exploitation, and production of oil and natural gas properties in the United States. The company’s properties consist of operated and non-operated working interests in producing and undeveloped leasehold acreage, as well as working interests in identified producing wells located in Oklahoma, the Rockies, federal waters offshore Southern California, East Texas/North Louisiana, and Eagle Ford.