Analysts are weighing in on how Denbury Resources Inc. (NYSE:DNR), might perform in the near term. Wall Street analysts have a unfavorable assessment of the stock, with a mean rating of 3.2. The stock is rated as buy by 0 analysts, with 0 outperform and 0 hold rating. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for strong sell.
For the current quarter, the 17.00 analysts offering adjusted EPS forecast have a consensus estimate of $0.02 a share, which would compare with $0.13 in the same quarter last year. They have a high estimate of $0.18 and a low estimate of $-0.04. Revenue for the period is expected to total nearly $282.78M from $376.69M the year-ago period.
For the full year, 19.00 Wall Street analysts forecast this company would deliver earnings of -0.12 per share, with a high estimate of $0.35 and a low estimate of $-0.31. It had reported earnings per share of $0.37 in the corresponding quarter of the previous year. Revenue for the period is expected to total nearly $1.01B versus 1.26B in the preceding year.
The analysts project the company to maintain annual growth of around 4.01% percent over the next five years as compared to an average growth rate of 8.79% percent expected for its competitors in the same industry.
Among the 14 analysts Data provided by Thomson/First Call tracks, the 12-month average price target for DNR is $2.88 but some analysts are projecting the price to go as high as $5.00. If the optimistic analysts are correct, that represents a 26 percent upside potential from the recent closing price of $3.96. Some sell-side analysts, particularly the bearish ones, have called for $1.00 price targets on shares of Denbury Resources Inc. (NYSE:DNR).
In the last reported results, the company reported earnings of $0.13 per share, while analysts were calling for share earnings of $0.12. It was an earnings surprise of 8.30%percent. In the matter of earnings surprises, the term Cockroach Effect is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.
Denbury Resources Inc. operates as an independent oil and natural gas company in the United States. The company primarily focuses on enhanced oil recovery utilizing carbon dioxide. It holds 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. As of December 31, 2015, the company had 288.6 million barrels of oil equivalent of estimated proved oil and natural gas reserves. Denbury Resources Inc. was founded in 1951 and is headquartered in Plano, Texas.