Analysts Anticipate Denbury Resources Inc. (NYSE:DNR) Will Post Earnings of $0.10 Per Share
Analysts expect that Denbury Resources Inc. (NYSE:DNR) will post earnings per share (EPS) of $0.10 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Denbury Resources’ earnings. Denbury Resources posted earnings per share of $0.13 during the same quarter last year, which would indicate a negative year-over-year growth rate of 23.1%. The company is expected to announce its next earnings report on Thursday, November 14th.
On average, analysts expect that Denbury Resources will report full-year earnings of $0.44 per share for the current year, with EPS estimates ranging from $0.43 to $0.44. For the next financial year, analysts expect that the business will post earnings of $0.37 per share, with EPS estimates ranging from $0.26 to $0.46. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Denbury Resources.
Denbury Resources (NYSE:DNR) last announced its earnings results on Wednesday, August 7th. The oil and natural gas company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The company had revenue of $343.36 million during the quarter, compared to analysts’ expectations of $331.52 million. Denbury Resources had a return on equity of 19.52% and a net margin of 27.05%. Denbury Resources’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS.
In other Denbury Resources news, insider Christian S. Kendall bought 100,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were acquired at an average price of $1.25 per share, with a total value of $125,000.00. Following the transaction, the insider now owns 2,003,390 shares of the company’s stock, valued at $2,504,237.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in Denbury Resources during the fourth quarter worth approximately $12,891,000. State of New Jersey Common Pension Fund D increased its holdings in shares of Denbury Resources by 1,307.2% in the second quarter. State of New Jersey Common Pension Fund D now owns 5,167,209 shares of the oil and natural gas company’s stock valued at $6,407,000 after purchasing an additional 4,800,000 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Denbury Resources in the second quarter valued at approximately $21,530,000. Bank of America Corp DE boosted its stake in shares of Denbury Resources by 120.0% in the second quarter. Bank of America Corp DE now owns 5,065,374 shares of the oil and natural gas company’s stock valued at $6,280,000 after buying an additional 2,762,659 shares in the last quarter. Finally, South Dakota Investment Council boosted its stake in shares of Denbury Resources by 675.8% in the second quarter. South Dakota Investment Council now owns 2,986,700 shares of the oil and natural gas company’s stock valued at $3,704,000 after buying an additional 2,601,700 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of DNR traded up $0.03 during midday trading on Thursday, hitting $1.00. The company had a trading volume of 6,911,351 shares, compared to its average volume of 12,627,566. The company’s 50-day simple moving average is $1.13 and its 200-day simple moving average is $1.68. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $457.45 million, a P/E ratio of 2.07 and a beta of 3.35. Denbury Resources has a 1 year low of $0.87 and a 1 year high of $6.75.
About Denbury Resources
Denbury Resources Inc operates as an independent oil and natural gas company in the United States. It holds interests in various oil and natural gas properties located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.
Featured Story: Price to Earnings Ratio (PE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Denbury Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Denbury Resources and related companies with MarketBeat.com's FREE daily email newsletter.