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S&P 500 (NYSE:SPY) component Dominion Resources (NYSE:D) will unveil its latest earnings tomorrow, Wednesday, August 1, 2012. Dominion Resources supplies electricity and natural gas to various regions across the United States.
Dominion Resources Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of 60 cents per share, a rise of 1.7% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 61 cents. Between one and three months ago, the average estimate was unchanged. It has since dropped over the last month. For the year, analysts are projecting net income of $3.19 per share, a rise of 4.6% from last year.
Past Earnings Performance: Last quarter, the company missed estimates by one cent, coming in at profit of 85 cents per share against an estimate of net income of. In the fourth quarter of the last fiscal year, the company also missed expectations.
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Wall St. Revenue Expectations: On average, analysts predict $2.96 billion in revenue this quarter, a decline of 11.4% from the year-ago quarter. Analysts are forecasting total revenue of $14.29 billion for the year, a decline of 0.6% from last year’s revenue of $14.38 billion.
Stock Price Performance: Between May 30, 2012 and July 30, 2012, the stock price had risen $2.42 (4.61%), from $52.50 to $54.92. The stock price saw one of its best stretches over the last year between June 11, 2012 and June 19, 2012, when shares rose for seven straight days, increasing 3% (+$1.57) over that span. It saw one of its worst periods between December 29, 2011 and January 13, 2012 when shares fell for 11 straight days, dropping 5.5% (-$2.93) over that span.
A Look Back: In the first quarter, profit rose 3.1% to $494 million (86 cents a share) from $479 million (82 cents a share) the year earlier, but fell short analyst expectations. Revenue fell 13.9% to $3.49 billion from $4.06 billion.
Last quarter’s earnings rise was a switch from preceding drops, so the upcoming earnings announcement is a chance to build on last quarter’s result. Net income fell in the second quarter of the last fiscal year, the third quarter of the last fiscal year and the fourth quarter of the last fiscal year before snapping that run with a profit increase in the first quarter.
On the top line, the company is hoping to use this earnings announcement to snap a string of three-straight quarters of revenue declines. Revenue fell 3.7% in the third quarter of the last fiscal year and 15.2% in fourth quarter of the last fiscal year before falling again in the first quarter.
Analyst Ratings: There are mostly holds on the stock with 14 of 17 analysts surveyed giving that rating.
Balance Sheet Analysis: The company’s current ratio of assets to liabilities came in at 0.75 last quarter. The current ratio is an indication of a firm’s liquidity and ability to meet creditor demands and generally, a ratio less than one could indicate a company may have difficulty meeting current obligations.
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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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