Brokerages Expect Denbury Resources Inc. (DNR) Will Post Quarterly Sales of $304.94 Million

Wall Street analysts expect Denbury Resources Inc. (NYSE:DNR) to announce $304.94 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Denbury Resources’ earnings. The lowest sales estimate is $294.20 million and the highest is $315.00 million. Denbury Resources reported sales of $353.23 million in the same quarter last year, which would suggest a negative year over year growth rate of 13.7%. The business is scheduled to issue its next earnings results on Tuesday, May 14th.

According to Zacks, analysts expect that Denbury Resources will report full year sales of $1.53 billion for the current financial year, with estimates ranging from $1.34 billion to $1.67 billion. For the next year, analysts expect that the company will post sales of $1.70 billion, with estimates ranging from $1.42 billion to $1.93 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Denbury Resources.

Denbury Resources (NYSE:DNR) last announced its earnings results on Wednesday, February 27th. The oil and natural gas company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $336.00 million for the quarter, compared to analyst estimates of $329.65 million. Denbury Resources had a return on equity of 23.95% and a net margin of 21.90%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 earnings per share.

DNR has been the topic of a number of research analyst reports. Oppenheimer lowered Denbury Resources from an “outperform” rating to a “hold” rating and set a $9.00 target price on the stock. in a research report on Friday, November 30th. Stephens initiated coverage on Denbury Resources in a research report on Thursday, December 6th. They issued a “weight” rating and a $4.00 target price on the stock. UBS Group set a $3.00 target price on Denbury Resources and gave the company a “hold” rating in a research report on Monday, December 10th. TheStreet upgraded shares of Denbury Resources from a “d+” rating to a “c” rating in a research note on Monday, December 17th. Finally, Capital One Financial downgraded shares of Denbury Resources from an “overweight” rating to an “underweight” rating in a research note on Thursday, December 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Denbury Resources presently has an average rating of “Hold” and an average target price of $4.61.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M Holdings Securities Inc. acquired a new position in Denbury Resources in the fourth quarter valued at $25,000. D.A. Davidson & CO. acquired a new position in Denbury Resources in the fourth quarter valued at $34,000. PEAK6 Investments LLC acquired a new position in Denbury Resources in the fourth quarter valued at $38,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Denbury Resources in the fourth quarter valued at $40,000. Finally, Pensionmark Financial Group LLC acquired a new position in Denbury Resources in the fourth quarter valued at $43,000. Institutional investors own 87.93% of the company’s stock.

NYSE DNR traded down $0.05 on Friday, reaching $1.78. The stock had a trading volume of 200,777 shares, compared to its average volume of 10,812,577. The firm has a market cap of $831.10 million, a price-to-earnings ratio of 3.71 and a beta of 3.58. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.33. Denbury Resources has a 12-month low of $1.39 and a 12-month high of $6.75.

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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