Forest Oil Corp Third Quarter Earnings Sneak Peek

Forest Oil Corp (NYSE:FST) will unveil its latest earnings on Monday, October 31, 2011. 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 profit of 26 cents per share, a decline of 39.5% 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 38 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 34 cents during the last month. For the year, analysts are projecting net income of $1.05 per share, a decline of 40.3% from last year.

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 31 cents per share. In the first quarter, it missed forecasts by 7 cents.

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Wall St. Revenue Expectations: On average, analysts predict $197.6 million in revenue this quarter, a decline of 6.1% from the year ago quarter. Analysts are forecasting total revenue of $821.7 million for the year, a decline of 3.9% 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 three rating it as a hold.

A Look Back: In the second quarter, profit rose 17% to $38.9 million (34 cents a share) from $33.3 million (29 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 14.4% to $237.8 million from $208 million.

Key Stats:

Revenue rose in the second quarter after seeing a drop the quarter before. In the first quarter, revenue fell 8.6%.

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 August 1, 2011 to October 25, 2011, the stock price had fallen $14.99 (-56.8%) from $26.40 to $11.41. 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 $26.56 (-69.9%) year to date.

(Source: Xignite Financials)

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