Denbury Inc. (NYSE:DEN) Expected to Announce Earnings of $0.53 Per Share

Equities analysts forecast that Denbury Inc. (NYSE:DEN) will announce earnings of $0.53 per share for the current quarter, Zacks reports. Three analysts have provided estimates for Denbury’s earnings. The highest EPS estimate is $0.72 and the lowest is $0.45. The company is scheduled to report its next earnings report on Thursday, November 4th.

According to Zacks, analysts expect that Denbury will report full-year earnings of $2.18 per share for the current fiscal year, with EPS estimates ranging from $2.01 to $2.47. For the next financial year, analysts forecast that the company will post earnings of $4.99 per share, with EPS estimates ranging from $4.56 to $5.58. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Denbury.

Denbury (NYSE:DEN) last issued its quarterly earnings results on Thursday, August 5th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.12. Denbury had a negative return on equity of 70.74% and a negative net margin of 106.78%. The firm had revenue of $301.37 million during the quarter, compared to the consensus estimate of $245.30 million.

Several equities research analysts recently commented on DEN shares. KeyCorp lifted their price objective on Denbury from $82.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, June 24th. Zacks Investment Research cut Denbury from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 17th. Siebert Williams Shank began coverage on Denbury in a research report on Friday, June 11th. They set a “buy” rating and a $100.00 price objective on the stock. Roth Capital cut Denbury from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $57.00 to $78.75 in a research report on Wednesday, July 7th. Finally, Stifel Nicolaus began coverage on Denbury in a research report on Thursday, June 24th. They set a “buy” rating and a $93.00 price objective on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $81.25.

Institutional investors and hedge funds have recently modified their holdings of the stock. Credit Suisse AG bought a new stake in Denbury during the 1st quarter valued at approximately $5,517,000. Goldman Sachs Group Inc. increased its stake in Denbury by 685.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 203,013 shares of the company’s stock worth $9,722,000 after acquiring an additional 177,157 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Denbury in the 2nd quarter worth approximately $369,000. Victory Capital Management Inc. bought a new stake in Denbury in the 2nd quarter worth approximately $508,000. Finally, Voloridge Investment Management LLC bought a new stake in Denbury in the 1st quarter worth approximately $2,715,000.

NYSE DEN traded up $1.48 during trading hours on Friday, hitting $72.30. The company’s stock had a trading volume of 1,695 shares, compared to its average volume of 848,859. Denbury has a 12 month low of $15.96 and a 12 month high of $81.37. The company’s 50 day simple moving average is $67.88 and its two-hundred day simple moving average is $61.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.39 and a quick ratio of 0.39.

Denbury Company Profile

Denbury Inc, an independent energy company, focuses on producing oil from mature oil fields in the Gulf Coast and Rocky Mountain regions. The company holds interests in various oil and natural gas properties located in Mississippi, Texas, and Louisiana in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.

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Earnings History and Estimates for Denbury (NYSE:DEN)

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