Denbury Resources Inc. (DNR) Expected to Announce Earnings of -$0.01 Per Share
Equities research analysts expect that Denbury Resources Inc. (NYSE:DNR) will post ($0.01) earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have issued estimates for Denbury Resources’ earnings. The lowest EPS estimate is ($0.02) and the highest is $0.00. Denbury Resources reported earnings per share of $0.08 in the same quarter last year, which would suggest a negative year over year growth rate of 112.5%. The company is scheduled 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 earnings of ($0.02) per share for the current year, with EPS estimates ranging from ($0.06) to $0.02. For the next financial year, analysts expect that the business will post earnings of $0.06 per share, with EPS estimates ranging from $0.03 to $0.07. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Denbury Resources.
Denbury Resources (NYSE:DNR) last released its earnings results on Thursday, May 4th. The oil and natural gas company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.01. The firm had revenue of $264 million during the quarter, compared to the consensus estimate of $254.67 million. Denbury Resources had a positive return on equity of 2.49% and a negative net margin of 72.85%. The business’s quarterly revenue was up 35.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) EPS.
Several research firms have weighed in on DNR. UBS AG restated a “sell” rating and set a $1.50 price target (down previously from $2.00) on shares of Denbury Resources in a report on Friday, May 5th. Stifel Nicolaus restated a “hold” rating and set a $2.50 price target on shares of Denbury Resources in a report on Friday, July 14th. BMO Capital Markets cut their price target on Denbury Resources from $2.00 to $1.00 and set a “no rating at time” rating for the company in a report on Friday, July 14th. ValuEngine cut Denbury Resources from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Credit Suisse Group restated an “underperform” rating and set a $2.00 price target on shares of Denbury Resources in a report on Friday, June 2nd. Six equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Denbury Resources has an average rating of “Hold” and a consensus target price of $2.64.
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Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Denbury Resources by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,462,003 shares of the oil and natural gas company’s stock worth $12,741,000 after buying an additional 278,606 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Denbury Resources by 9.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 67,910 shares of the oil and natural gas company’s stock worth $250,000 after buying an additional 5,760 shares during the period. Highbridge Capital Management LLC boosted its position in shares of Denbury Resources by 341.4% in the fourth quarter. Highbridge Capital Management LLC now owns 78,121 shares of the oil and natural gas company’s stock worth $288,000 after buying an additional 60,421 shares during the period. Foundry Partners LLC boosted 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. Finally, Bank of Montreal Can boosted 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. Hedge funds and other institutional investors own 90.26% of the company’s stock.
Shares of Denbury Resources (DNR) opened at 1.38 on Monday. The company’s market cap is $537.37 million. The company has a 50-day moving average price of $1.47 and a 200-day moving average price of $2.24. Denbury Resources has a 52-week low of $1.27 and a 52-week high of $4.29.
About Denbury Resources
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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