ONEOK Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average analyst estimate is for net income of 34 cents per share, a rise of 36% from the company’s actual earnings for the year-ago quarter. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. Analysts are projecting profit to rise by 4.8% compared to last year’s $1.75.
Past Earnings Performance: The company fell short of estimates last quarter after topping forecasts the quarter prior. In the first quarter, it reported profit of 51 cents per share against a mean estimate of 65 cents. Two quarters ago, it beat expectations by one cent with net income of 54 cents.
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Stock Price Performance: Between April 30, 2012 and July 25, 2012, the stock price fell $42.77 (-49.8%), from $85.89 to $43.12. The stock price saw one of its best stretches over the last year between July 10, 2012 and July 19, 2012, when shares rose for eight straight days, increasing 4.4% (+$1.84) over that span. It saw one of its worst periods between July 26, 2011 and August 8, 2011 when shares fell for 10 straight days, dropping 20.6% (-$15.36) over that span.
A Look Back: In the first quarter, profit fell 5.6% to $122.9 million ($1.16 a share) from $130.1 million ($1.19 a share) the year earlier, missing analyst expectations. Revenue fell 11.7% to $3.41 billion from $3.87 billion.
Balance Sheet Analysis: The company’s current ratio of assets to liabilities came in at 1.0 last quarter. The current ratio is an indication of a firm’s liquidity and ability to meet creditor demands and generally, for every dollar the company owes in the short term, it has that figure available in assets that can be converted to cash in the short term.
On the top line, the company is looking to get back on the right track after last quarter’s drop snapped a string of revenue increases. Revenue rose 25.2% in the second quarter of the last fiscal year, 22.2% in the third quarter of the last fiscal year and 14.1%in the fourth quarter of the last fiscal year before dropping in the first quarter.
The company is looking to get back on track with this earnings announcement after a profit drop last quarter snapped a positive string of results. Net income rose 32.2% in the second quarter of the last fiscal year, 9.1% in the third quarter of the last fiscal year and 38.4% in the fourth quarter of the last fiscal year before declining in the first quarter.
Analyst Ratings: With seven analysts rating the stock a buy, none rating it a sell and three rating the stock a hold, there are indications of a bullish stance by analysts.
Wall St. Revenue Expectations: On average, analysts predict $3.56 billion in revenue this quarter, a rise of 1.4% from the year-ago quarter. Analysts are forecasting total revenue of $13.98 billion for the year, a decline of 5.6% from last year’s revenue of $14.81 billion.
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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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