Ring Energy (REI) to Report Q1 Earnings: What's in Store?

Ring Energy, Inc. REI is set to report first-quarter 2022 results on May 10, after the closing bell.

In the last reported quarter, the upstream energy company reported earnings of 10 cents per share, beating the Zacks Consensus Estimate of 7 cents. In the trailing four quarters, Ring Energy beat the Zacks Consensus Estimate for the bottom line thrice and missed once, delivering an earnings surprise of 19.3%, on average. This is depicted in the graph below:

Ring Energy, Inc. Price, Consensus and EPS Surprise

Ring Energy, Inc. Price, Consensus and EPS Surprise

Ring Energy, Inc. price-consensus-eps-surprise-chart | Ring Energy, Inc. Quote

Let’s see how things have shaped up prior to the announcement.

Estimate Trend

The Zacks Consensus Estimate for its first-quarter earnings per share of 18 cents has witnessed one upward and no downward movement in the past 30 days. This suggests year-over-year earnings growth of 157.1%.

The Zacks Consensus Estimate for its revenues in the March quarter is pegged at $54.1 million, suggesting year-over-year earnings growth of almost 37%.

Factors to Consider

In the March quarter, crude oil and natural prices increased significantly compared to the prior-year quarter. Healthier commodity prices are likely to have aided Ring Energy since the company is a leading upstream energy player with a strong footprint in the prolific Permian Basin.

Earnings Whispers

Our proven model does not indicate an earnings beat for Ring Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. As you can see, that is not the case here.

Earnings ESP: Ring Energy has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Ring Energy currently sports a Zacks Rank #1.

Stocks That Warrant a Look

Here are some companies that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:

Advance Auto Parts, Inc. AAP has an Earnings ESP of +4.89% and is a Zacks #3 Ranked player at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Advance Auto Parts is scheduled to release first-quarter results on May 23. The Zacks Consensus Estimate for Advance Auto Parts’ quarterly earnings is pegged at 3.50 cents per share, suggesting an increase of 4.8% from the prior-year reported figure.

AbCellera ABCL has an Earnings ESP of +20.93% and is a Zacks #2 Ranked player at present.

AbCellera is scheduled to release first-quarter results on May 10. The Zacks Consensus Estimate for ABCL’s quarterly earnings is pegged at 43 cents per share, suggesting an increase of 16.2% from the prior-year figure.

Ascendis Pharma A/S ASND has an Earnings ESP of +17.62% and flaunts a Zacks Rank #3.

Ascendis Pharma is scheduled to release first-quarter earnings on May 11. The Zacks Consensus Estimate for ASND’s bottom line is pegged at a loss of $2.25 per share, suggesting a decline of 59.6% from the prior-year reported figure.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Advance Auto Parts, Inc. (AAP) : Free Stock Analysis Report

Ring Energy, Inc. (REI) : Free Stock Analysis Report

Ascendis Pharma AS (ASND) : Free Stock Analysis Report

AbCellera Biologics Inc. (ABCL) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research