EagleRock Land (NYSE:EROK) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Key Points

• EagleRock Land reported quarterly EPS of $0.08, missing the consensus estimate of $0.11 by $0.03.
• Shares rose $0.19 to $19.13 on Tuesday, though they remained below the 50-day moving average of $22.20.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $27.67.

EagleRock Land (NYSE:EROK - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.03), Zacks reports.

EagleRock Land Price Performance

Shares of NYSE:EROK traded up $0.19 on Tuesday, hitting $19.13. 178,549 shares of the company were exchanged, compared to its average volume of 254,386. The stock has a market cap of $2.52 billion and a price-to-earnings ratio of 20.35. EagleRock Land has a 1-year low of $16.99 and a 1-year high of $27.42. The stock has a 50 day moving average price of $22.20.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on EagleRock Land from $24.00 to $28.00 and gave the company a "neutral" rating in a research report on Friday, August 21st. Piper Sandler lowered their price target on EagleRock Land from $33.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, October 19th. Barclays raised their price target on EagleRock Land from $25.00 to $27.00 and gave the stock an "overweight" rating in a report on Wednesday, August 12th. JPMorgan Chase & Co. dropped their price target on EagleRock Land from $29.00 to $27.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 13th. Finally, Weiss Ratings downgraded shares of EagleRock Land from a "sell (e)" rating to a "sell (e-)" rating in a report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $27.67.

About EagleRock Land

EagleRock Land, LLC is a land management royalty company which controls surface acreage in the core of the Permian Basin providing access to land, resources and infrastructure for critical industries. EagleRock Land, LLC is based in HOUSTON.

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