Gran Tierra (GTE) To Report Q3 Earnings: What's In Store?
Zacks Investment Research | Nov 01, 2019 07:37AM ET
Gran Tierra Energy Inc. (NYSE:GTE) is set to report third-quarter 2019 results on Nov 5, after the closing bell.
Let’s see how things are shaping up prior to the announcement.
Which Way are Estimates Headed?
Let’s take a look at the estimate revision trend to get a clear picture of what analysts feel about the upstream energy player prior to the earnings release.
The Zacks Consensus Estimate for third-quarter earnings of 5 cents per share has seen no upward and downward revisions in the past 30 days. The figure suggests a year-over-year decline of 72.2%.
Factors to Consider
The Zacks Consensus Estimate for the company’s production in third-quarter 2019 is pegged at 36,418 barrel of oil equivalent per day (BOE/D), suggesting a marginal improvement of 0.7% from the year-ago quarter. Being an exploration and production player, the company is likely to have benefited from higher production. However, weaker year-over-year oil prices is expected to have partially offset the positive.
Earnings Whispers
Our proven model does not indicate an earnings beat for Gran Tierra. The combination of a positive Zacks Investment Research
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