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On Tuesday, Concho Resources (NYSE:CXO) will release its latest earnings. Benzinga's outlook for Concho Resources is included in the following report.
Earnings and Revenue
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Wall Street expects EPS of 45 cents per share and sales around $705.56 million.
In the same quarter last year, Concho Resources reported earnings of 20 cents per share on sales of $524 million. The Wall Street estimate would represent a 125 percent increase in the company's earnings. Revenue would be up 34.5 percent from the same quarter last year.
Here's how the company's reported EPS has stacked up against analyst estimates in the past:
| Quarter | Q3 2017 | Q2 2017 | Q1 2017 | Q4 2016 |
| EPS Estimate | 0.27 | 0.43 | 0.3 | -0.07 |
| EPS Actual | 0.45 | 0.52 | 0.49 | 0.2 |
Stock Performance
Over the last 52-week period, shares are up 4.52 percent. Given that these returns are generally positive, long-term shareholders can relax going into this earnings release. Long-term shareholders are already enjoying 12-month gains prior to the announcement.
Over the past 90 days, analysts' have adjusted their estimates higher for EPS and revenues. Analysts generally rate Concho Resources stock as Neutral. The strength of this rating has maintained conviction over the past three months.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.