Denbury Resources (DNR) closed the most recent trading day at $5.27, moving -1.22% from the previous trading session. This change lagged the S&P 500's daily loss of 0.04%. Elsewhere, the Dow gained 0.26%, while the tech-heavy Nasdaq lost 0.48%.
Heading into today, shares of the independent oil and gas company had lost 3.79% over the past month, lagging the Oils-Energy sector's loss of 2.31% and outpacing the S&P 500's loss of 4.53% in that time.
Investors will be hoping for strength from DNR as it approaches its next earnings release, which is expected to be November 6, 2018. On that day, DNR is projected to report earnings of $0.12 per share, which would represent year-over-year growth of 200%. Our most recent consensus estimate is calling for quarterly revenue of $359.21 million, up 34.76% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.49 per share and revenue of $1.46 billion. These totals would mark changes of +250% and +29.61%, respectively, from last year.
Any recent changes to analyst estimates for DNR should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.34% higher. DNR is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, DNR is holding a Forward P/E ratio of 10.99. Its industry sports an average Forward P/E of 18.32, so we one might conclude that DNR is trading at a discount comparatively.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 59, putting it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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