Headwater Exploration Inc reports results for the quarter ended June 30 - Earnings Summary

• Headwater Exploration Inc HWX.TO reported quarterly adjusted earnings of 16 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 22 cents. The lone analyst forecast for the quarter was for earnings of 16 cents per share.

• Revenue was C$144.94 million​; analysts expected C$138.20 million.

• Headwater Exploration Inc's reported EPS for the quarter was 16 cents​.

• The company reported quarterly net income of C$38.02 million.

• Headwater Exploration Inc shares had risen by 7.6% this quarter and gained 9.5% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 8.1% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell." The average consensus recommendation for the oil & gas exploration and production peer group is also "buy"

• Wall Street's median 12-month price target for Headwater Exploration Inc is C$8.50, about 14% above its last closing price of C$7.31

This summary was machine generated from LSEG data July 23 at 10:40 p.m. UTC. ​All figures in Canadian dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)