Why Approach Resources (AREX) Stock Is Down Today
NEW YORK (TheStreet) -- Approach Resources
For the second quarter Approach Resources reported earnings of 22 cents a share, missing the Capital IQ Consensus Estimate of 23 cents a share by 1 cent. Revenue grew 73.6% year-over-year to $73.4 million for the year. Analysts expected revenue of $66.1 million for the quarter.
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TheStreet Ratings team rates APPROACH RESOURCES INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate APPROACH RESOURCES INC (AREX) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and good cash flow from operations. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year."