Forest Oil Corp (NASDAQ:FST) will unveil its latest earnings on Monday, August 1, 2011. Forest Oil Corporation 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 31 cents per share, a decline of 26.2% 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 41 cents. Between one and three months ago, the average estimate moved down and dropped from 39 cents during the last month. For the year, analysts are projecting profit of $1.23 per share, a decline of 30.1% 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 net income of 26 cents per share against a mean estimate of 33 cents. Two quarters ago, it beat expectations by 5 cents with profit of 52 cents.
Wall St. Revenue Expectations: On average, analysts predict $227 million in revenue this quarter, a rise of 9.1% from the year ago quarter. Analysts are forecasting total revenue of $900.2 million for the year, a rise of 5.3% from last year’s revenue of $854.8 million.
Analyst Ratings: Analysts are bullish on this stock with 11 analysts rating it as a buy, one rating it as a sell and four rating it as a hold.
A year-over-year revenue decrease in the first quarter snaps a streak of three consecutive quarters of revenue increases. Revenue fell 8.6% in the first quarter and rose 0.1%in the fourth quarter of the last fiscal year, 18.7% in the third quarter of the last fiscal year and 14.5% in the second quarter of the last fiscal year.
Forest Oil’s loss in the latest quarter follows profits in the previous three quarters. The company reported a loss of of $3.3 million in the first quarter, a profit of $16.2 million in the fourth quarter of the last fiscal year, a profit of $68.9 million in the third of the last fiscal year and a profit of $33.3 million in the second quarter of the last fiscal year.
Competitors to Watch: EOG Resources, Inc. (NYSE:EOG), Anadarko Petroleum Corp. (NYSE:APC), GeoMet, Inc. (NASDAQ:GMET), Carrizo Oil & Gas, Inc. (NASDAQ:CRZO), Magellan Petroleum Corp. (NASDAQ:MPET), Devon Energy Corporation (NYSE:DVN), Quicksilver Resources Inc (NYSE:KWK), Gulfport Energy Corp. (NASDAQ:GPOR), Linn Energy, LLC (NASDAQ:LINE), and Approach Resources Inc. (NASDAQ:AREX).
Stock Price Performance: During April 29, 2011 to July 26, 2011, the stock price had fallen $9.47 (-26.4%) from $35.91 to $26.44. The stock price saw one of its best stretches over the last year between October 28, 2010 and November 8, 2010 when shares rose for eight-straight days, rising 14.3% (+$4.32) 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, falling 13.6% (-$4.09) over that span. Shares are down $11.53 (-30.4%) year to date.
(Source: Xignite Financials)