Chesapeake Energy Corp Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Chesapeake Energy Corp (NYSE:CHK) will unveil its latest earnings on Thursday, July 28, 2011. Chesapeake Energy Corp. is a company that explores and develops properties for the production of crude oil and natural gas (NYSE:UNG) from underground reservoirs.

Chesapeake Energy Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 72 cents per share, a decline of 4% 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 70 cents. For the year, analysts are projecting profit of $2.92 per share, a decline of 1% from last year.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 5 cents, reporting net income of 75 cents per share against a mean estimate of profit of 70 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $2.76 billion in revenue this quarter, a rise of 37.3% from the year ago quarter. Analysts are forecasting total revenue of $10.65 billion for the year, a rise of 13.7% from last year’s revenue of $9.37 billion.

Analyst Ratings: Analysts are bullish on this stock with 16 analysts rating it as a buy, one rating it as a sell and 11 rating it as a hold. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.

Key Stats:

Chesapeake Energy’s loss in the latest quarter follows profits in the previous three quarters. The company reported a loss of of $162 million in the first quarter, a profit of $224 million in the fourth quarter of the last fiscal year, a profit of $558 million in the third of the last fiscal year and a profit of $255 million in the second quarter of the last fiscal year.

Revenue has fallen in the past two quarters. In first quarter, revenue declined 42.4% to $1.61 billion from the year earlier quarter. In the fourth quarter of the last fiscal year, the figure fell 11.1%.

Competitors to Watch: Gastar Exploration Ltd. (AMEX:GST), Anadarko Petroleum Corp. (NYSE:APC), Devon Energy Corporation (NYSE:DVN), Bronco Drilling Co., Inc. (NASDAQ:BRNC), EOG Resources, Inc. (NYSE:EOG), Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), Apache Corporation (NYSE:APA).

Stock Price Performance: During June 23, 2011 to July 22, 2011, the stock price had risen $5.51 (19.1%) from $28.88 to $34.39. The stock price saw one of its best stretches over the last year between January 4, 2011 and January 12, 2011 when shares rose for seven-straight days, rising 6.4% (+$1.66) over that span. It saw one of its worst periods between May 10, 2011 and May 17, 2011 when shares fell for six-straight days, falling 8% (-$2.52) over that span. Shares are up $8.62 (+33.4%) year to date.

(Source: Xignite Financials)

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