The price of Granite Ridge Resources Inc (NYSE: GRNT) closed at $6.28 in the last session, up 1.29% from day before closing price of $6.20. In other words, the price has increased by $+0.08 from its previous closing price. On the day, 704177 shares were traded.
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Ratios:
We take a closer look at GRNT’s different ratios to gain a better understanding of the stock. For the most recent quarter (mrq), Quick Ratio is recorded 2.44 and its Current Ratio is at 2.44. In the meantime, Its Debt-to-Equity ratio is 0.16 whereas as Long-Term Debt/Eq ratio is at 0.16.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, BofA Securities on November 07, 2023, initiated with a Buy rating and assigned the stock a target price of $9.
On September 27, 2023, Stephens started tracking the stock assigning a Overweight rating and target price of $8.
Insider Transactions:
An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Mar 15 ’24 when Farquharson Tyler bought 5,000 shares for $6.20 per share. The transaction valued at 31,000 led to the insider holds 68,037 shares of the business.
Brandenberg Luke C bought 5,000 shares of GRNT for $31,000 on Mar 15 ’24. The President and CEO now owns 77,947 shares after completing the transaction at $6.20 per share. On Mar 15 ’24, another insider, MCCARTNEY JOHN, who serves as the Director of the company, bought 2,000 shares for $6.19 each. As a result, the insider paid 12,380 and bolstered with 42,839 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, GRNT now has a Market Capitalization of 819.22M and an Enterprise Value of 868.36M. As of this moment, Granite’s Price-to-Earnings (P/E) ratio for their current fiscal year is 10.32, and their Forward P/E ratio for the next fiscal year is 8.88. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.08 while its Price-to-Book (P/B) ratio in mrq is 1.22. Its current Enterprise Value per Revenue stands at 2.20 whereas that against EBITDA is 3.20.
Stock Price History:
Over the past 52 weeks, GRNT has reached a high of $8.14, while it has fallen to a 52-week low of $5.00. The 50-Day Moving Average of the stock is 5.89, while the 200-Day Moving Average is calculated to be 6.34.
Shares Statistics:
According to the various share statistics, GRNT traded on average about 415.39K shares per day over the past 3-months and 376.81k shares per day over the past 10 days. A total of 130.36M shares are outstanding, with a floating share count of 53.42M. Insiders hold about 59.05% of the company’s shares, while institutions hold 25.46% stake in the company. Shares short for GRNT as of Feb 29, 2024 were 1.91M with a Short Ratio of 4.26, compared to 1.52M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 1.47% and a Short% of Float of 5.70%.
Dividends & Splits
The forward annual dividend rate for GRNT is 0.44, which was 0.44 in the trailing 12 months. Against a Trailing Annual Dividend Yield of 7.10%, it implies a Forward Annual Dividend Yield of 7.01%.
Earnings Estimates
The company has 4 analysts who recommend its stock at the moment. On average, analysts expect EPS of $0.1 for the current quarter, with a high estimate of $0.15 and a low estimate of $0.05, while EPS last year was $0.21. The consensus estimate for the next quarter is $0.12, with high estimates of $0.14 and low estimates of $0.11.
Analysts are recommending an EPS of between $0.59 and $0.48 for the fiscal current year, implying an average EPS of $0.55. EPS for the following year is $0.71, with 4 analysts recommending between $0.86 and $0.54.
Revenue Estimates
According to 3 analysts, the current quarter’s revenue is expected to be $88.92M. It ranges from a high estimate of $101M to a low estimate of $80.27M. As of the current estimate, Granite Ridge Resources Inc’s year-ago sales were $91.31M, an estimated decrease of -2.60% from the year-ago figure. For the next quarter, 3 analysts are estimating revenue of $90.04M, an increase of 2.80% over than the figure of -$2.60% in the same quarter last year. There is a high estimate of $99M for the next quarter, whereas the lowest estimate is $82.12M.
A total of 3 analysts have provided revenue estimates for GRNT’s current fiscal year. The highest revenue estimate was $409M, while the lowest revenue estimate was $382.83M, resulting in an average revenue estimate of $395.78M. In the same quarter a year ago, actual revenue was $394.07M, up 0.40% from the average estimate. Based on 3 analysts’ estimates, the company’s revenue will be $453.06M in the next fiscal year. The high estimate is $469.67M and the low estimate is $429M. The average revenue growth estimate for next year is up 14.50% from the average revenue estimate for this year.
