Zacks: Brokerages Expect Brigham Minerals Inc (NYSE:MNRL) to Post $0.02 EPS

Equities analysts forecast that Brigham Minerals Inc (NYSE:MNRL) will post earnings of $0.02 per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Brigham Minerals’ earnings. The highest EPS estimate is $0.07 and the lowest is ($0.02). Brigham Minerals reported earnings of $0.14 per share during the same quarter last year, which would suggest a negative year over year growth rate of 85.7%. The firm is expected to issue its next earnings report on Thursday, November 5th.

On average, analysts expect that Brigham Minerals will report full-year earnings of $0.13 per share for the current financial year, with EPS estimates ranging from $0.04 to $0.18. For the next fiscal year, analysts forecast that the business will report earnings of $0.32 per share, with EPS estimates ranging from $0.18 to $0.59. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Brigham Minerals.

Brigham Minerals (NYSE:MNRL) last released its earnings results on Wednesday, August 12th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The firm had revenue of $12.61 million during the quarter, compared to analyst estimates of $12.88 million. Brigham Minerals had a net margin of 8.57% and a return on equity of 2.51%.

MNRL has been the subject of several research reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $18.00 target price on shares of Brigham Minerals in a research report on Sunday, July 26th. SunTrust Banks dropped their target price on Brigham Minerals from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, July 28th. Capital One Financial raised Brigham Minerals from an “equal weight” rating to an “overweight” rating in a research report on Thursday, July 23rd. Zacks Investment Research raised Brigham Minerals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 15th. Finally, Raymond James reissued a “buy” rating on shares of Brigham Minerals in a research report on Friday, August 14th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Brigham Minerals presently has a consensus rating of “Buy” and a consensus target price of $14.00.

NYSE MNRL traded up $0.65 during trading on Wednesday, hitting $9.37. The stock had a trading volume of 629,644 shares, compared to its average volume of 504,493. The company has a market capitalization of $533.25 million, a PE ratio of 26.03 and a beta of 2.45. The firm has a 50 day moving average price of $11.13 and a 200 day moving average price of $11.71. Brigham Minerals has a twelve month low of $5.86 and a twelve month high of $23.12.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 27th were paid a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, August 26th. This represents a $0.56 annualized dividend and a yield of 5.98%. Brigham Minerals’s dividend payout ratio is currently 98.25%.

In related news, Chairman Ben M. Brigham acquired 22,000 shares of Brigham Minerals stock in a transaction dated Tuesday, September 15th. The stock was acquired at an average price of $8.90 per share, for a total transaction of $195,800.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.35% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of MNRL. Advisor Group Holdings Inc. acquired a new stake in shares of Brigham Minerals during the first quarter worth about $38,000. UBS Group AG increased its position in Brigham Minerals by 6,351.6% during the second quarter. UBS Group AG now owns 4,000 shares of the company’s stock worth $49,000 after buying an additional 3,938 shares during the period. Bank of Montreal Can lifted its stake in Brigham Minerals by 79.8% in the second quarter. Bank of Montreal Can now owns 4,735 shares of the company’s stock valued at $53,000 after buying an additional 2,102 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Brigham Minerals by 117.0% in the first quarter. Meeder Asset Management Inc. now owns 6,980 shares of the company’s stock valued at $58,000 after buying an additional 3,763 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Brigham Minerals by 32.0% in the first quarter. US Bancorp DE now owns 7,155 shares of the company’s stock valued at $59,000 after acquiring an additional 1,735 shares during the period. 70.81% of the stock is currently owned by institutional investors.

Brigham Minerals Company Profile

Brigham Minerals, Inc owns and operates a portfolio of mineral and royalty interests in the continental United States. The company primarily holds mineral and royalty interests in the Permian Basin in West Texas and New Mexico; the SCOOP/STACK plays in the Anadarko Basin of Oklahoma; the Denver-Julesburg Basin in Colorado; and Wyoming and the Williston Basin in North Dakota.

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Earnings History and Estimates for Brigham Minerals (NYSE:MNRL)

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