Wall Street analysts expect Denbury Resources Inc. (NYSE:DNR) to report sales of $335.57 million for the current quarter, Zacks reports. Three analysts have made estimates for Denbury Resources’ earnings. The lowest sales estimate is $329.82 million and the highest is $344.00 million. Denbury Resources posted sales of $326.59 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.7%. The firm is expected to issue its next quarterly earnings results on Thursday, February 28th.
According to Zacks, analysts expect that Denbury Resources will report full-year sales of $1.47 billion for the current fiscal year, with estimates ranging from $1.47 billion to $1.48 billion. For the next year, analysts expect that the business will report sales of $2.00 billion, with estimates ranging from $1.85 billion to $2.16 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Denbury Resources.
Denbury Resources (NYSE:DNR) last posted its earnings results on Thursday, November 8th. The oil and natural gas company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The company had revenue of $395.00 million during the quarter, compared to analyst estimates of $348.39 million. Denbury Resources had a return on equity of 27.79% and a net margin of 18.81%. The company’s revenue for the quarter was up 48.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 EPS.
Several research firms have recently issued reports on DNR. Johnson Rice lowered Denbury Resources from an “accumulate” rating to a “hold” rating in a research report on Tuesday. Capital One Financial lowered Denbury Resources from an “overweight” rating to an “underweight” rating in a research report on Thursday, December 20th. TheStreet upgraded Denbury Resources from a “d+” rating to a “c” rating in a research report on Monday, December 17th. UBS Group set a $3.00 target price on Denbury Resources and gave the stock a “hold” rating in a research report on Monday, December 10th. Finally, Stephens began coverage on Denbury Resources in a research report on Thursday, December 6th. They set a “weight” rating and a $4.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $4.79.
Shares of Denbury Resources stock traded down $0.01 during trading on Tuesday, hitting $2.19. 16,168,243 shares of the company were exchanged, compared to its average volume of 17,324,820. The firm has a market capitalization of $1.01 billion, a P/E ratio of 15.64 and a beta of 3.55. Denbury Resources has a 1-year low of $1.39 and a 1-year high of $6.75. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 2.80.
Institutional investors and hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC acquired a new position in shares of Denbury Resources in the 2nd quarter valued at approximately $1,379,000. Prudential Financial Inc. grew its position in shares of Denbury Resources by 12.3% in the 3rd quarter. Prudential Financial Inc. now owns 822,659 shares of the oil and natural gas company’s stock valued at $5,101,000 after purchasing an additional 89,940 shares during the period. FMR LLC grew its position in shares of Denbury Resources by 17.6% in the 2nd quarter. FMR LLC now owns 21,799,417 shares of the oil and natural gas company’s stock valued at $104,854,000 after purchasing an additional 3,266,213 shares during the period. AXA grew its position in shares of Denbury Resources by 81.5% in the 3rd quarter. AXA now owns 112,000 shares of the oil and natural gas company’s stock valued at $694,000 after purchasing an additional 50,300 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in shares of Denbury Resources by 26.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,753,000 shares of the oil and natural gas company’s stock valued at $10,869,000 after purchasing an additional 362,500 shares during the period. Institutional investors and hedge funds own 87.56% of the company’s stock.
Denbury Resources Company Profile
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.
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