Archaea Energy Inc. to Post FY2022 Earnings of $0.15 Per Share, Capital One Financial Forecasts (NYSE:LFG)

Archaea Energy Inc. (NYSE:LFG – Get Rating) – Equities researchers at Capital One Financial decreased their FY2022 earnings per share estimates for shares of Archaea Energy in a report released on Tuesday, June 21st. Capital One Financial analyst R. Tullis now forecasts that the company will post earnings of $0.15 per share for the year, down from their previous forecast of $0.38. The consensus estimate for Archaea Energy’s current full-year earnings is $0.63 per share. Capital One Financial also issued estimates for Archaea Energy’s FY2023 earnings at $0.90 EPS.

Archaea Energy (NYSE:LFG – Get Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.08. The company had revenue of $56.90 million during the quarter, compared to analysts’ expectations of $65.80 million. The firm’s revenue was up 3456.3% on a year-over-year basis.

A number of other brokerages have also weighed in on LFG. Barclays assumed coverage on Archaea Energy in a research report on Friday, June 17th. They issued an “overweight” rating and a $26.00 target price for the company. Stifel Nicolaus assumed coverage on Archaea Energy in a research note on Monday, March 7th. They set a “buy” rating and a $37.00 price target for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $28.80.

LFG opened at $17.28 on Thursday. The stock has a 50-day moving average price of $20.23 and a 200-day moving average price of $19.23. Archaea Energy has a 1 year low of $14.30 and a 1 year high of $23.75.

Several large investors have recently made changes to their positions in the stock. Ares Management LLC bought a new position in shares of Archaea Energy during the 4th quarter valued at approximately $273,151,000. Vanguard Group Inc. grew its stake in shares of Archaea Energy by 195.1% during the 1st quarter. Vanguard Group Inc. now owns 6,101,494 shares of the company’s stock valued at $133,806,000 after acquiring an additional 4,034,040 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Archaea Energy by 73.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,803,363 shares of the company’s stock worth $106,085,000 after purchasing an additional 2,464,026 shares during the period. Kensico Capital Management Corp boosted its stake in Archaea Energy by 12.0% in the 4th quarter. Kensico Capital Management Corp now owns 3,360,999 shares of the company’s stock worth $61,439,000 after purchasing an additional 360,999 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Archaea Energy by 20.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,565,447 shares of the company’s stock worth $46,897,000 after purchasing an additional 440,485 shares during the period. Institutional investors own 55.87% of the company’s stock.

About Archaea Energy (Get Rating)

Archaea Energy Inc operates as a renewable natural gas (RNG) and renewable electricity producer in the United States. It owns and operates a diversified portfolio of 23 landfill gas recovery and processing projects across 12 states, including 13 projects that collectively generate approximately 177.3 MW of electric capacity and 10 projects that have capacity to produce approximately 27,480 million of British thermal units per day of pipeline-quality RNG.

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