S&P 500 (NYSE:SPY) component Denbury Resources, Inc. (NYSE:DNR) will unveil its latest earnings on Thursday, August 4, 2011. Denbury Resources, Inc. is an independent oil and gas company that acquires and develops oil and natural gas properties in the U.S. Gulf Coast region.
Denbury Resources, Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of 33 cents per share, a rise of 83.3% 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 31 cents. Between one and three months ago, the average estimate moved up, and has risen from 32 cents during the last month. For the year, analysts are projecting net income of $1.20 per share, a rise of 93.5% from last year.
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 26 cents per share against a mean estimate of 27 cents. Two quarters ago, it beat expectations by 3 cents with net income of 22 cents.
Wall St. Revenue Expectations: On average, analysts predict $560.2 million in revenue this quarter, a rise of 12.7% from the year ago quarter. Analysts are forecasting total revenue of $2.18 billion for the year, a rise of 13.5% from last year’s revenue of $1.92 billion.
Analyst Ratings: Analysts are bullish on this stock with 15 analysts rating it as a buy, none rating it as a sell and four 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 95.4%, with the biggest boost coming in the second quarter of the last fiscal year when revenue rose more than twofold from the year earlier quarter.
Denbury Resources’ loss in the latest quarter follows profits in the previous three quarters. The company reported a loss of of $14.2 million in the first quarter, a profit of $10.4 million in the fourth quarter of the last fiscal year, a profit of $29.1 million in the third of the last fiscal year and a profit of $135.4 million in the second quarter of the last fiscal year.
The company increased its gross margin by 3.2 percentage points in the in the first quarter. Revenue rose 52.4% while cost of sales rose 38.6% to $162 million from a year earlier.
Competitors to Watch: QR Energy LP (NYSE:QRE), Swift Energy Company (NYSE:SFY), Carrizo Oil & Gas, Inc. (NASDAQ:CRZO), Crimson Exploration Inc. (NASDAQ:CXPO), GeoMet, Inc. (NASDAQ:GMET), Penn Virginia Corporation (NYSE:PVA), Evolution Petroleum Corp. (AMEX:EPM), Constellation Energy Partners LLC (NYSE:CEP), and Lucas Energy, Inc. (AMEX:LEI).
Stock Price Performance: During June 2, 2011 to July 29, 2011, the stock price had fallen $1.58 (-7.6%) from $20.90 to $19.32. 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 8.2% (+$1.53) over that span. It saw one of its worst periods between April 20, 2011 and April 28, 2011 when shares fell for six-straight days, falling 6.8% (-$1.58) over that span. Shares are up 23 cents (+1.2%) year to date.
(Source: Xignite Financials)