Zacks: Brokerages Expect Denbury Resources Inc. (DNR) Will Announce Quarterly Sales of $252.58 Million
Equities research analysts expect that Denbury Resources Inc. (NYSE:DNR) will announce sales of $252.58 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Denbury Resources’ earnings, with estimates ranging from $242.01 million to $258.94 million. Denbury Resources reported sales of $253.99 million during the same quarter last year, which indicates a negative year-over-year growth rate of 0.6%. The firm is expected to issue its next quarterly earnings results before the market opens on Tuesday, November 7th.
On average, analysts expect that Denbury Resources will report full year sales of $252.58 million for the current fiscal year, with estimates ranging from $1.00 billion to $1.06 billion. For the next fiscal year, analysts expect that the business will post sales of $1.14 billion per share, with estimates ranging from $1.13 billion to $1.15 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Denbury Resources.
Denbury Resources (NYSE:DNR) last released its quarterly earnings results on Tuesday, August 8th. The oil and natural gas company reported $0.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.02. The business had revenue of $261.20 million during the quarter, compared to the consensus estimate of $248.66 million. Denbury Resources had a negative return on equity of 1.94% and a negative net margin of 35.24%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 EPS.
DNR has been the subject of several recent research reports. BMO Capital Markets set a $1.00 price target on Denbury Resources and gave the company a “hold” rating in a research report on Tuesday, October 10th. Zacks Investment Research upgraded Denbury Resources from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Stifel Nicolaus reiterated a “hold” rating and issued a $2.50 price target on shares of Denbury Resources in a research report on Friday, July 14th. BidaskClub upgraded Denbury Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, ValuEngine cut Denbury Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Denbury Resources has a consensus rating of “Hold” and a consensus price target of $2.06.
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Denbury Resources (NYSE DNR) traded down 0.83% during mid-day trading on Friday, hitting $1.19. The stock had a trading volume of 3,549,976 shares. The firm’s 50-day moving average is $1.25 and its 200 day moving average is $1.55. Denbury Resources has a 12 month low of $0.91 and a 12 month high of $4.29. The company’s market cap is $463.98 million.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Denbury Resources by 18.3% during the first quarter. Vanguard Group Inc. now owns 56,483,974 shares of the oil and natural gas company’s stock valued at $145,729,000 after buying an additional 8,753,615 shares during the period. BlackRock Inc. boosted its stake in Denbury Resources by 15,599.0% during the first quarter. BlackRock Inc. now owns 47,422,302 shares of the oil and natural gas company’s stock valued at $122,349,000 after buying an additional 47,120,229 shares during the period. State Street Corp boosted its stake in Denbury Resources by 1.8% during the second quarter. State Street Corp now owns 21,829,124 shares of the oil and natural gas company’s stock valued at $33,402,000 after buying an additional 380,034 shares during the period. JPMorgan Chase & Co. boosted its stake in Denbury Resources by 24.5% during the second quarter. JPMorgan Chase & Co. now owns 12,097,850 shares of the oil and natural gas company’s stock valued at $18,510,000 after buying an additional 2,382,134 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Denbury Resources by 18.5% during the second quarter. Dimensional Fund Advisors LP now owns 10,103,099 shares of the oil and natural gas company’s stock valued at $15,458,000 after buying an additional 1,573,866 shares during the period. 86.44% of the stock is owned by institutional investors.
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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