Denbury Resources Inc. (DNR) Expected to Announce Quarterly Sales of $257.87 Million
Wall Street analysts expect Denbury Resources Inc. (NYSE:DNR) to post $257.87 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Denbury Resources’ earnings, with the highest sales estimate coming in at $258.94 million and the lowest estimate coming in at $256.80 million. Denbury Resources posted sales of $253.99 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.5%. The firm is expected to announce its next earnings report on Thursday, November 2nd.
On average, analysts expect that Denbury Resources will report full year sales of $257.87 million for the current year, with estimates ranging from $1.03 billion to $1.06 billion. For the next financial year, analysts expect that the company will report sales of $1.14 billion per share, with estimates ranging from $1.13 billion to $1.15 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Denbury Resources.
Denbury Resources (NYSE:DNR) last issued its quarterly earnings data on Tuesday, August 8th. The oil and natural gas company reported $0.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.02. Denbury Resources had a negative net margin of 35.24% and a negative return on equity of 1.94%. The business had revenue of $261.20 million during the quarter, compared to analysts’ expectations of $248.66 million. During the same period last year, the company posted $0.08 EPS. The company’s revenue was up 2.4% on a year-over-year basis.
A number of brokerages have recently weighed in on DNR. KeyCorp reaffirmed a “hold” rating on shares of Denbury Resources in a research note on Wednesday, September 6th. BMO Capital Markets reissued a “hold” rating and set a $1.00 target price on shares of Denbury Resources in a research note on Friday, September 1st. Royal Bank Of Canada set a $2.00 target price on shares of Denbury Resources and gave the company a “hold” rating in a research note on Friday, August 25th. BidaskClub lowered shares of Denbury Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Finally, Stifel Nicolaus set a $1.00 target price on shares of Denbury Resources and gave the company a “hold” rating in a research note on Friday, August 18th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $2.42.
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A number of institutional investors have recently added to or reduced their stakes in DNR. Capstone Asset Management Co. increased its stake in Denbury Resources by 195.5% in the 1st quarter. Capstone Asset Management Co. now owns 71,238 shares of the oil and natural gas company’s stock valued at $184,000 after buying an additional 47,130 shares during the period. Louisiana State Employees Retirement System increased its stake in Denbury Resources by 64.7% in the 1st quarter. Louisiana State Employees Retirement System now owns 162,200 shares of the oil and natural gas company’s stock valued at $418,000 after buying an additional 63,700 shares during the period. State of Alaska Department of Revenue acquired a new position in Denbury Resources in the 1st quarter valued at approximately $113,000. Great West Life Assurance Co. Can increased its stake in Denbury Resources by 137.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 556,369 shares of the oil and natural gas company’s stock valued at $1,430,000 after buying an additional 322,290 shares during the period. Finally, First Trust Advisors LP acquired a new position in Denbury Resources in the 1st quarter valued at approximately $633,000. Hedge funds and other institutional investors own 86.45% of the company’s stock.
Denbury Resources (DNR) opened at 1.13 on Thursday. The stock’s 50 day moving average is $1.23 and its 200-day moving average is $1.78. The stock’s market capitalization is $440.59 million. Denbury Resources has a 52 week low of $0.91 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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