Zacks: Brokerages Expect Denbury Resources Inc. (NYSE:DNR) to Announce $0.09 EPS

Analysts forecast that Denbury Resources Inc. (NYSE:DNR) will report earnings of $0.09 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Denbury Resources’ earnings, with estimates ranging from $0.08 to $0.12. Denbury Resources posted earnings of $0.10 per share in the same quarter last year, which would suggest a negative year over year growth rate of 10%. The business is scheduled to issue its next earnings report on Wednesday, February 26th.

On average, analysts expect that Denbury Resources will report full-year earnings of $0.41 per share for the current financial year, with EPS estimates ranging from $0.38 to $0.47. For the next fiscal year, analysts forecast that the business will report earnings of $0.28 per share, with EPS estimates ranging from $0.24 to $0.31. Zacks’ EPS calculations are a mean average based on a survey of research firms that follow Denbury Resources.

Denbury Resources (NYSE:DNR) last released its quarterly earnings data on Thursday, November 7th. The oil and natural gas company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Denbury Resources had a net margin of 28.28% and a return on equity of 15.74%. The company had revenue of $315.45 million during the quarter, compared to the consensus estimate of $307.85 million. During the same period in the previous year, the firm earned $0.13 earnings per share. Denbury Resources’s revenue for the quarter was down 20.1% on a year-over-year basis.

Several brokerages recently issued reports on DNR. Royal Bank of Canada set a $2.00 price target on Denbury Resources and gave the company a “hold” rating in a report on Monday, August 12th. ValuEngine cut Denbury Resources from a “sell” rating to a “strong sell” rating in a research note on Friday, November 29th. Finally, Imperial Capital set a $1.00 price objective on Denbury Resources and gave the stock a “hold” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $1.81.

Shares of DNR stock opened at $1.03 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.82. The company has a market cap of $497.76 million, a PE ratio of 2.15 and a beta of 3.44. The company’s fifty day simple moving average is $1.04 and its 200-day simple moving average is $1.17. Denbury Resources has a 52 week low of $0.87 and a 52 week high of $2.68.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sunbelt Securities Inc. boosted its stake in shares of Denbury Resources by 52.8% in the third quarter. Sunbelt Securities Inc. now owns 419,002 shares of the oil and natural gas company’s stock valued at $499,000 after purchasing an additional 144,872 shares during the period. Northern Trust Corp grew its stake in shares of Denbury Resources by 2.3% during the second quarter. Northern Trust Corp now owns 5,833,808 shares of the oil and natural gas company’s stock valued at $7,234,000 after acquiring an additional 130,044 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of Denbury Resources by 57.4% during the second quarter. Municipal Employees Retirement System of Michigan now owns 256,560 shares of the oil and natural gas company’s stock worth $318,000 after acquiring an additional 93,580 shares during the last quarter. First Trust Advisors LP increased its position in shares of Denbury Resources by 436.5% during the second quarter. First Trust Advisors LP now owns 1,179,148 shares of the oil and natural gas company’s stock worth $1,462,000 after acquiring an additional 959,380 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Denbury Resources by 13.3% in the third quarter. California Public Employees Retirement System now owns 1,345,101 shares of the oil and natural gas company’s stock worth $1,601,000 after acquiring an additional 157,400 shares in the last quarter. Institutional investors own 70.93% 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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Earnings History and Estimates for Denbury Resources (NYSE:DNR)

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