Forest Oil Corp First Quarter Earnings Sneak Peek

Forest Oil Corp (NYSE:FST) will unveil its latest earnings on Monday, April 30, 2012. Forest Oil is an independent oil and gas company engaged in the acquisition, exploration, development, and production of natural gas and liquids mainly North America.

Forest Oil Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 20 cents per share, a decline of 23.1% 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 22 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 20 cents during the last month. Analysts are projecting profit to rise by 3.4% versus last year to 90 cents.

Past Earnings Performance: The company is looking to top analyst estimates this quarter after trailing for the two previous quarters. Last quarter, it missed estimates by reporting profit of 18 cents per share against an estimate of net income of 26 cents per share. The quarter before that, it missed expectations by 4 cents.

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Wall St. Revenue Expectations: Analysts are projecting a decline of 7.6% in revenue from the year-earlier quarter to $187.7 million.

Analyst Ratings: 10 out of 16 analysts surveyed (62.5%) have a buy rating on Forest Oil. This is below the mean analyst rating of 10 competitors, which average 67.7% buy ratings.

A Look Back: In the fourth quarter of the last fiscal year, profit rose 20.2% to $19.5 million (16 cents a share) from $16.2 million (14 cents a share) the year earlier, but fell short analyst expectations. Revenue fell 17.4% to $176.6 million from $213.9 million.

Key Stats:

On the top line, the company is hoping to use this earnings announcement to snap a string of two-straight quarters of revenue declines. Revenue fell 17.2% in the third quarter of the last fiscal year and dropped again in the fourth quarter of the last fiscal year of the last fiscal year.

Stock Price Performance: Between January 27, 2012 and April 24, 2012, the stock price fell $1.76 (-12.7%), from $13.86 to $12.10. The stock price saw one of its best stretches over the last year between June 27, 2011 and July 5, 2011, when shares rose for six straight days, increasing 12.9% (+$3.22) over that span. It saw one of its worst periods between June 1, 2011 and June 13, 2011 when shares fell for nine straight days, dropping 13.6% (-$4.09) over that span.

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

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