Denbury Resources Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Denbury Resources (NYSE:DNR) will unveil its latest earnings on Tuesday, November 6, 2012. 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 Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 32 cents per share, a decline of 13.5% 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 29 cents. Between one and three months ago, the average estimate moved up. It has risen from 31 cents during the last month. Analysts are projecting profit to rise by 0.7% compared to last year’s $1.42.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 2 cents, reporting net income of 35 cents per share against a mean estimate of profit of 33 cents per share.

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A Look Back: In the second quarter, profit fell 18.3% to $211.9 million (54 cents a share) from $259.2 million (64 cents a share) the year earlier, but exceeded analyst expectations. Revenue rose 0.9% to $601.8 million from $596.4 million.

Stock Price Performance: Between October 3, 2012 and October 31, 2012, the stock price dropped 74 cents (-4.6%), from $16.07 to $15.33. The stock price saw one of its best stretches over the last year between August 13, 2012 and August 20, 2012, when shares rose for six straight days, increasing 3.1% (+48 cents) over that span. It saw one of its worst periods between October 16, 2012 and October 24, 2012 when shares fell for seven straight days, dropping 9.1% (-$1.53) over that span.

Wall St. Revenue Expectations: On average, analysts predict $603 million in revenue this quarter, a rise of 4.6% from the year-ago quarter. Analysts are forecasting total revenue of $2.47 billion for the year, a rise of 6.9% from last year’s revenue of $2.31 billion.

Key Stats:

On the top line, the company is looking to build on four-straight revenue increases heading into this earnings announcement. Revenue rose 22.9% in the third quarter of the last fiscal year, 18% in the fourth quarter of the last fiscal year and 26.2% in the first quarter before increasing again in the second quarter.

Analyst Ratings: With 15 analysts rating the stock a buy, none rating it a sell and none rating the stock a hold, there are indications of a bullish stance by analysts.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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