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S&P 500 (NYSE:SPY) component EOG Resources, Inc. (NYSE:EOG) will unveil its latest earnings on Wednesday, May 9, 2012. EOG Resources develops and produces natural gas and crude oil primarily in the United States, Canada, the Republic of Trinidad, Tobago, and the United Kingdom.
EOG Resources, Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average analyst estimate is for profit of $1.14 per share, a rise of 67.6% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved up from 93 cents. Between one and three months ago, the average estimate moved up. It has risen from $1.12 during the last month. Analysts are projecting profit to rise by 32.5% versus last year to $5.02.
Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 26 cents, reporting net income of $1.15 per share against a mean estimate of profit of 89 cents per share.
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Wall St. Revenue Expectations: Analysts predict a rise of 24.2% in revenue from the year-earlier quarter to $2.36 billion.
Analyst Ratings: Of the 22 analysts surveyed, 12 (54.5%) rate EOG Resources a buy. This falls under the mean analyst rating of 10 competitors, which average 61% buy ratings. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.
A Look Back: In the fourth quarter of the last fiscal year, profit rose more than twofold to $120.7 million (44 cents a share) from $53.7 million (21 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 55% to $2.77 billion from $1.79 billion.
With double-digit revenue growth the past four quarters, this earnings release is a chance to keep that positive trend going. The company has averaged year-over-year revenue growth of 66.3% over the last four quarters.
Stock Price Performance: Between March 7, 2012 and May 3, 2012, the stock price had fallen $5.24 (-4.6%), from $112.95 to $107.71. The stock price saw one of its best stretches over the last year between April 20, 2012 and May 1, 2012, when shares rose for eight straight days, increasing 8% (+$8.20) over that span. It saw one of its worst periods between July 26, 2011 and August 4, 2011 when shares fell for eight straight days, dropping 13.6% (-$14.37) over that span.
(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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