Denbury Resources Inc. (NYSE:DNR) Expected to Announce Earnings of $0.10 Per Share

Brokerages expect Denbury Resources Inc. (NYSE:DNR) to announce $0.10 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Denbury Resources’ earnings, with estimates ranging from $0.08 to $0.14. Denbury Resources also posted earnings of $0.10 per share in the same quarter last year. The firm is scheduled to announce its next earnings results on Wednesday, February 26th.

According to Zacks, analysts expect that Denbury Resources will report full year earnings of $0.41 per share for the current year, with EPS estimates ranging from $0.38 to $0.49. For the next fiscal year, analysts anticipate that the business will post earnings of $0.31 per share, with EPS estimates ranging from $0.24 to $0.44. Zacks’ EPS averages are a mean average based on a survey of research firms that that provide coverage for Denbury Resources.

Denbury Resources (NYSE:DNR) last announced its earnings results on Thursday, November 7th. The oil and natural gas company reported $0.08 earnings per share for the quarter, beating 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 firm had revenue of $315.45 million during the quarter, compared to the consensus estimate of $307.85 million. During the same quarter in the previous year, the company posted $0.13 EPS. The firm’s revenue for the quarter was down 20.1% on a year-over-year basis.

Several research firms have commented on DNR. Imperial Capital set a $1.00 price target on Denbury Resources and gave the company a “hold” rating in a report on Friday, October 18th. 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. Finally, ValuEngine upgraded Denbury Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The company has an average rating of “Hold” and a consensus price target of $3.38.

A number of institutional investors and hedge funds have recently bought and sold shares of DNR. State of New Jersey Common Pension Fund D grew its holdings in Denbury Resources by 1,307.2% in the 2nd 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 buying an additional 4,800,000 shares during the period. Nuveen Asset Management LLC purchased a new stake in Denbury Resources in the 2nd quarter valued at about $21,530,000. Bank of America Corp DE grew its holdings in Denbury Resources by 120.0% in the 2nd 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 during the period. South Dakota Investment Council grew its holdings in Denbury Resources by 675.8% in the 2nd 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 during the period. Finally, Morgan Stanley grew its holdings in Denbury Resources by 308.8% in the 2nd quarter. Morgan Stanley now owns 2,401,655 shares of the oil and natural gas company’s stock valued at $2,977,000 after buying an additional 1,814,165 shares during the period. Institutional investors own 71.00% of the company’s stock.

DNR stock traded down $0.02 during trading on Friday, hitting $1.04. The stock had a trading volume of 7,361,971 shares, compared to its average volume of 12,813,828. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.58 and a current ratio of 0.68. The stock has a market cap of $512.26 million, a price-to-earnings ratio of 2.17 and a beta of 3.38. The company’s 50 day moving average price is $1.07 and its two-hundred day moving average price is $1.25. Denbury Resources has a 1-year low of $0.87 and a 1-year high of $2.68.

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.

Further Reading: Understanding the two types of arbitrage

Get a free copy of the Zacks research report on Denbury Resources (DNR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Denbury Resources (NYSE:DNR)

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.