Denbury Resources (DNR - Free Report) closed the most recent trading day at $5.74, moving +1.95% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.42%. At the same time, the Dow added 1.15%, and the tech-heavy Nasdaq gained 2.29%.
Heading into today, shares of the independent oil and gas company had gained 9.11% over the past month, outpacing the Oils-Energy sector's gain of 0.92% and the S&P 500's loss of 5.36% in that time.
Wall Street will be looking for positivity from DNR as it approaches its next earnings report date. This is expected to be November 6, 2018. The company is expected to report EPS of $0.12, up 200% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $359.21 million, up 34.76% from the prior-year quarter.
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.
It is also important to note the recent changes to analyst estimates for DNR. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.46% higher. DNR is currently a Zacks Rank #3 (Hold).
Investors should also note DNR's current valuation metrics, including its Forward P/E ratio of 11.61. This valuation marks a discount compared to its industry's average Forward P/E of 18.62.
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 102, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow DNR in the coming trading sessions, be sure to utilize Zacks.com.