Denbury Resources Inc. (DNR - Free Report) is an oil and gas company 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, two 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 increasing from 1 cent a share 30 days ago, to 3 cents today, a move of over 100%.
Current Year Estimates for DNR
Meanwhile, Denbury Resources’ current year figures are also looking quite promising, with four estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from a loss of 1 cent per share 30 days ago to earnings of 4 cents per share today.
Denbury Resources Inc. Price and Consensus
The stock has also started to move higher lately, adding 41.3% 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 #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>