S&P 500 (NYSE:SPY) component Cabot Oil & Gas Corporation (NYSE:COG) will unveil its latest earnings on Wednesday, July 27, 2011. Cabot Oil & Gas Corporation is an independent company engaged in the development, exploitation and exploration of oil and gas properties in North America.
Cabot Oil & Gas Corporation Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of 29 cents per share, a rise of 61.1% 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 20 cents. Between one and three months ago, the average estimate moved up, and has risen from 23 cents during the last month. For the year, analysts are projecting profit of $1.09 per share, a rise of 11.2% from last year.
Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the first quarter, it reported net income of 15 cents per share against a mean estimate of profit of 12 cents per share. In the fourth quarter of the last fiscal year, it missed forecasts by 4 cents.
Wall St. Revenue Expectations: On average, analysts predict $240.3 million in revenue this quarter, a rise of 22.9% from the year ago quarter. Analysts are forecasting total revenue of $1.01 billion for the year, a rise of 19.7% from last year’s revenue of $844 million.
Analyst Ratings: Analysts are bullish on this stock with nine analysts rating it as a buy, none rating it as a sell and eight rating it as a hold. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.
The decrease in profit in the first quarter comes after net income rose in the previous quarter. In the first quarter, net income fell 55.1% to $12.9 million. In the fourth quarter of the last fiscal year, net income rose 35%.
Revenue has fallen in the past two quarters. In first quarter, revenue declined 1.7% to $209 million from the year earlier quarter. In the fourth quarter of the last fiscal year, the figure fell 7.1%.
Competitors to Watch: EOG Resources, Inc. (NYSE:EOG), Pinnacle Gas Resources, Inc. (PINN), Vanguard Natural Resources, LLC (NYSE:VNR), Magnum Hunter Resources Corp (NYSE:MHR), Anadarko Petroleum Corp. (NYSE:APC), PrimeEnergy Corporation (NASDAQ:PNRG), SM Energy Co. (NYSE:SM), EV Energy Partners, L.P. (NASDAQ:EVEP), Continental Resources, Inc. (NYSE:CLR), and Range Resources Corp. (NYSE:RRC).
Stock Price Performance: During May 24, 2011 to July 21, 2011, the stock price had risen $17.89 (33.5%) from $53.47 to $71.36. The stock price saw one of its best stretches over the last year between October 28, 2010 and November 11, 2010 when shares rose for 11-straight days, rising 24.8% (+$7) over that span. It saw one of its worst periods between February 2, 2011 and February 9, 2011 when shares fell for six-straight days, falling 4.3% (-$1.83) over that span. Shares are up $33.56 (+88.8%) year to date.
(Source: Xignite Financials)