S&P 500 (NYSE:SPY) component Apache Corporation (NYSE:APA) will unveil its latest earnings on Thursday, August 4, 2011. Apache Corporation is an energy company that explores for, develops and produces natural gas, crude oil and natural gas liquids in six countries.
Apache Corporation Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of $3.09 per share, a rise of 26.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $2.92. Between one and three months ago, the average estimate moved up, and has risen from $3.01 during the last month. For the year, analysts are projecting net income of $12.16 per share, a rise of 36.3% from last year.
Past Earnings Performance: The company beat estimates last quarter after falling short in the prior two. In the first quarter, the company reported profit of $2.87 per share versus a mean estimate of net income of $2.61 per share. In the fourth quarter of the last fiscal year, the company missed estimates by 25 cents.
Wall St. Revenue Expectations: On average, analysts predict $4.26 billion in revenue this quarter, a rise of 43.4% from the year ago quarter. Analysts are forecasting total revenue of $16.6 billion for the year, a rise of 37.3% from last year’s revenue of $12.09 billion.
Analyst Ratings: Analysts are bullish on this stock with 18 analysts rating it as a buy, none rating it as a sell and five rating it as a hold.
The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 38.1%, with the biggest boost coming in the most recent quarter when revenue rose 46.8% from the year earlier quarter.
The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 60.9% while it rose 17.5% in the fourth quarter of the last fiscal year and 76.1% in the third quarter of the last fiscal year.
Competitors to Watch: EOG Resources, Inc. (NYSE:EOG), Chevron Corporation (NYSE:CVX), EnCana Corporation (NYSE:ECA), Chesapeake Energy Corp. (NYSE:CHK), Stone Energy Corporation (NYSE:SGY), Lucas Energy, Inc. (AMEX:LEI), Concho Resources Inc. (NYSE:CXO), Anadarko Petroleum Corp. (NYSE:APC), Noble Energy, Inc. (NYSE:NBL), and Gulfport Energy Corp. (NASDAQ:GPOR).
Stock Price Performance: During July 25, 2011 to August 3, 2011, the stock price had dropped $10.40 (-8%) from $128.06 to $117.66. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 5, 2011 when shares rose for seven-straight days, rising 7.3% (+$8.50) over that span. It saw one of its worst periods between August 17, 2010 and August 25, 2010 when shares fell for seven-straight days, falling 6.8% (-$6.31) over that span. Shares are down $1.46 (-1.22%) year to date.
(Source: Xignite Financials)