Denbury Resources Inc. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Denbury Resources, Inc. (NYSE:DNR) will unveil its latest earnings on Thursday, November 3, 2011. Denbury Resources is an independent oil and gas company that acquires and develops oil and natural gas properties in the United States Gulf Coast region.

Denbury Resources, Inc. 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 more than twofold from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 30 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 29 cents during the last month. Analysts are projecting profit to rise by 90.3% versus last year to $1.18.

Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the second quarter, it reported profit of 36 cents per share against a mean estimate of net income of 33 cents per share. In the first quarter, it missed forecasts by one cent.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 18% in revenue from the year-earlier quarter to $550.5 million.

Analyst Ratings: Analysts are bullish on this stock with 14 analysts rating it as a buy, one rating it as a sell and two rating it as a hold.

A Look Back: In the second quarter, profit rose 91.5% to $259.2 million (64 cents a share) from $135.4 million (34 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 21.1% to $596.4 million from $492.7 million.

Key Stats:

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 68.2%, with the biggest boost coming in the third quarter of the last fiscal year when revenue rose more than twofold from the year earlier quarter.

Competitors to Watch: QR Energy LP (NYSE:QRE), Swift Energy Company (NYSE:SFY), Carrizo Oil & Gas, Inc. (NASDAQ:CRZO), Crimson Exploration Inc. (NASDAQ:CXPO), South Texas Oil Company (STXXQ), 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 September 30, 2011 to October 28, 2011, the stock price had risen $5.35 (46.5%) from $11.50 to $16.85. 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 July 25, 2011 and August 8, 2011 when shares fell for 11-straight days, falling 29.9% (-$6.21) over that span. Shares are down $2.24 (-11.7%) year to date.

(Source: Xignite Financials)

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