$247.04 Million in Sales Expected for Denbury Resources Inc. (DNR) This Quarter
Equities analysts predict that Denbury Resources Inc. (NYSE:DNR) will report sales of $247.04 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Denbury Resources’ earnings. The lowest sales estimate is $246.27 million and the highest is $247.80 million. Denbury Resources posted sales of $255.15 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.2%. The business is expected to announce its next earnings report before the market opens on Tuesday, August 8th.
On average, analysts expect that Denbury Resources will report full year sales of $247.04 million for the current fiscal year, with estimates ranging from $1.04 billion to $1.05 billion. For the next fiscal year, analysts expect that the business will post sales of $1.15 billion per share, with estimates ranging from $1.14 billion to $1.17 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Denbury Resources.
Denbury Resources (NYSE:DNR) last issued its quarterly earnings data on Thursday, May 4th. The oil and natural gas company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.01. The company had revenue of $264 million for the quarter, compared to analyst estimates of $254.67 million. Denbury Resources had a negative net margin of 72.85% and a positive return on equity of 2.49%. The business’s revenue was up 35.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) EPS.
Several analysts recently issued reports on the company. UBS AG reiterated a “sell” rating and set a $1.50 target price (down previously from $2.00) on shares of Denbury Resources in a report on Friday, May 5th. BMO Capital Markets dropped their target price on Denbury Resources from $2.00 to $1.00 and set a “no rating at time” rating on the stock in a report on Friday, July 14th. Zacks Investment Research lowered Denbury Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday. Stifel Nicolaus reiterated a “hold” rating and set a $2.50 target price on shares of Denbury Resources in a report on Friday, July 14th. Finally, ValuEngine lowered Denbury Resources from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Six investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $2.64.
Institutional investors have recently made changes to their positions in the company. Hartford Investment Management Co. increased its position in shares of Denbury Resources by 20.4% in the first quarter. Hartford Investment Management Co. now owns 98,370 shares of the oil and natural gas company’s stock worth $254,000 after buying an additional 16,700 shares during the period. Louisiana State Employees Retirement System increased its position in shares of Denbury Resources by 64.7% in the first quarter. Louisiana State Employees Retirement System now owns 162,200 shares of the oil and natural gas company’s stock worth $418,000 after buying an additional 63,700 shares during the period. Capstone Asset Management Co. increased its position in shares of Denbury Resources by 195.5% in the first quarter. Capstone Asset Management Co. now owns 71,238 shares of the oil and natural gas company’s stock worth $184,000 after buying an additional 47,130 shares during the period. Bank of Montreal Can increased its position in shares of Denbury Resources by 8.0% in the first quarter. Bank of Montreal Can now owns 860,915 shares of the oil and natural gas company’s stock worth $2,221,000 after buying an additional 64,130 shares during the period. Finally, Foundry Partners LLC increased its position in shares of Denbury Resources by 13.6% in the first quarter. Foundry Partners LLC now owns 881,100 shares of the oil and natural gas company’s stock worth $2,273,000 after buying an additional 105,587 shares during the period. 91.11% of the stock is currently owned by hedge funds and other institutional investors.
Denbury Resources (NYSE DNR) opened at 1.4465 on Wednesday. The firm’s market cap is $563.26 million. The stock’s 50 day moving average price is $1.50 and its 200-day moving average price is $2.40. Denbury Resources has a one year low of $1.27 and a one year high of $4.29.
Denbury Resources Company Profile
Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused in two operating areas: the Gulf Coast and Rocky Mountain regions. Its properties with proved and producing reserves in the Gulf Coast region are situated in Mississippi, Texas, Louisiana and Alabama, and in the Rocky Mountain region are situated in Montana, North Dakota and Wyoming.
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