Surging Earnings Estimates Signal Good News for Denbury Resources (DNR)
Denbury Resources Inc. DNR is an independent oil and natural gas firm that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on DNR’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Denbury Resources could be a solid choice for investors.
Current Quarter Estimates for DNR
In the past 30 days, one estimates have gone higher for Denbury Resources while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increased from a loss of 1 cent a share 30 days ago, to break even earnings today.
Current Year Estimates for DNR
Meanwhile, Denbury Resources’ current year figures are also looking quite promising, with two estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 3 cents per share 30 days ago to a loss of 1 cent per share today, a move of 66.7%.
Denbury Resources Inc. Price and Consensus
Denbury Resources Inc. Price and Consensus | Denbury Resources Inc. Quote
Bottom Line
The stock has also started to move higher lately, adding 15.2% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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