Analysts Anticipate Denbury Resources Inc. (DNR) Will Announce Quarterly Sales of $302.08 Million

Equities research analysts expect that Denbury Resources Inc. (NYSE:DNR) will announce $302.08 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Denbury Resources’ earnings, with the highest sales estimate coming in at $322.40 million and the lowest estimate coming in at $270.17 million. Denbury Resources posted sales of $271.62 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.2%. The company is scheduled to issue its next earnings results on Thursday, February 22nd.

On average, analysts expect that Denbury Resources will report full-year sales of $302.08 million for the current year, with estimates ranging from $1.03 billion to $1.13 billion. For the next year, analysts anticipate that the business will post sales of $1.25 billion per share, with estimates ranging from $1.12 billion to $1.34 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Denbury Resources.

Denbury Resources (NYSE:DNR) last released its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.05. The company had revenue of $266.56 million during the quarter, compared to analysts’ expectations of $261.84 million. Denbury Resources had a positive return on equity of 0.28% and a negative net margin of 32.50%. The company’s revenue was up 4.9% on a year-over-year basis.

DNR has been the subject of a number of research analyst reports. BidaskClub cut Denbury Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Royal Bank of Canada set a $2.00 target price on Denbury Resources and gave the company a “hold” rating in a research note on Friday, August 25th. BMO Capital Markets restated a “hold” rating and issued a $1.00 target price on shares of Denbury Resources in a research note on Friday, September 1st. KeyCorp restated a “hold” rating on shares of Denbury Resources in a research note on Wednesday, September 6th. Finally, Imperial Capital began coverage on Denbury Resources in a research note on Tuesday, October 3rd. They set an “in-line” rating and a $2.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $1.94.

Denbury Resources (NYSE DNR) traded up $0.06 on Monday, hitting $1.67. The stock had a trading volume of 6,196,385 shares, compared to its average volume of 7,205,108. The company has a debt-to-equity ratio of 5.91, a current ratio of 0.53 and a quick ratio of 0.53. Denbury Resources has a 52 week low of $0.92 and a 52 week high of $4.05.

A number of large investors have recently made changes to their positions in DNR. Teachers Advisors LLC raised its stake in Denbury Resources by 1.3% during the first quarter. Teachers Advisors LLC now owns 616,101 shares of the oil and natural gas company’s stock valued at $1,590,000 after buying an additional 8,116 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Denbury Resources by 4.1% during the second quarter. Great West Life Assurance Co. Can now owns 579,269 shares of the oil and natural gas company’s stock valued at $886,000 after buying an additional 22,900 shares during the last quarter. Texas Permanent School Fund raised its stake in Denbury Resources by 0.9% during the second quarter. Texas Permanent School Fund now owns 290,828 shares of the oil and natural gas company’s stock valued at $445,000 after buying an additional 2,568 shares during the last quarter. Sei Investments Co. raised its stake in Denbury Resources by 0.4% during the second quarter. Sei Investments Co. now owns 268,469 shares of the oil and natural gas company’s stock valued at $411,000 after buying an additional 1,059 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Denbury Resources by 163.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 6,641,359 shares of the oil and natural gas company’s stock valued at $10,162,000 after buying an additional 4,125,074 shares during the last quarter. Institutional investors and hedge funds own 80.27% of the company’s stock.

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Denbury Resources Company Profile

Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused in two operating areas: the Gulf Coast and Rocky Mountain regions. Its properties with proved and producing reserves in the Gulf Coast region are situated in Mississippi, Texas, Louisiana and Alabama, and in the Rocky Mountain region are situated in Montana, North Dakota and Wyoming.

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