GeoResources Inc. Third Quarter Earnings Sneak Peek

GeoResources, Inc. (NASDAQ:GEOI) will unveil its latest earnings on Tuesday, November 8, 2011. GeoResources is an independent oil and gas company, which is engaged in the acquisition and development of oil and gas reserves.

GeoResources, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 33 cents per share, a decline of 13.2% 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 37 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 $1.30 per share, a rise of 4% from last year.

Past Earnings Performance: The company topped forecasts last quarter after being in line with estimates the quarter prior. In the second quarter, it reported profit of 31 cents per share versus a mean estimate of 29 cents. Two quarters ago, it reported net income of 29 cents per share.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 19.8% in revenue from the year-earlier quarter to $32.3 million.

Analyst Ratings: Analysts are bullish on this stock with nine analysts rating it as a buy, none rating it as a sell and three rating it as a hold.

A Look Back: In the second quarter, profit rose 99.5% to $8.9 million (34 cents a share) from $4.4 million (22 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 24.7% to $30.3 million from $24.3 million.

Key Stats:

The company has seen net income rise in three straight quarters. Net income rose 3.9% in the first quarter and more than twofold in the fourth quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue rose 10.8% in the first quarter from the year earlier, climbed 6.4% in the fourth quarter of the last fiscal year from the year-ago quarter and 30.3% in the third quarter of the last fiscal year.

Competitors to Watch: Resolute Energy Corp (NYSE:REN), Brigham Exploration Co. (NASDAQ:BEXP), QEP Resources, Inc. (NYSE:QEP), Continental Resources, Inc. (NYSE:CLR), Oasis Petroleum Inc. (NYSE:OAS), Encore Energy Partners LP (NYSE:ENP), Warren Resources, Inc. (NASDAQ:WRES), Devon Energy Corporation (NYSE:DVN), Double Eagle Petroleum Co. (NASDAQ:DBLE), and Earthstone Energy, Inc. (BSICD).

Stock Price Performance: During October 5, 2011 to November 2, 2011, the stock price had risen $7.87 (43.4%) from $18.15 to $26.02. The stock price saw one of its best stretches over the last year between June 27, 2011 and July 7, 2011 when shares rose for eight-straight days, rising 27.6% (+$5.55) over that span. It saw one of its worst periods between March 3, 2011 and March 15, 2011 when shares fell for nine-straight days, falling 24.4% (-$7.93) over that span. Shares are up $3.81 (+17.2%) year to date.

(Source: Xignite Financials)

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