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Oneok Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of 32 cents per share, a rise of 14.3% 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 33 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 32 cents during the last month. Analysts are projecting profit to rise by 0.6% compared to last year’s $1.68.
Past Earnings Performance: Last quarter, the company missed estimates by 5 cents, coming in at profit of 29 cents per share against an estimate of net income of. In the first quarter, the company also missed expectations.
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A Look Back: In the second quarter, profit rose 10.6% to $61 million (29 cents a share) from $55.1 million (51 cents a share) the year earlier, but fell short analyst expectations. Revenue fell 28% to $2.53 billion from $3.51 billion.
Wall St. Revenue Expectations: Analysts predict a decline of 7.5% in revenue from the year-earlier quarter to $3.33 billion.
Stock Price Performance: Between August 28, 2012 and October 24, 2012, the stock price had risen $2.72 (6.1%), from $44.47 to $47.19. The stock price saw one of its best stretches over the last year between September 5, 2012 and September 14, 2012, when shares rose for eight straight days, increasing 4.9% (+$2.21) over that span. It saw one of its worst periods between May 10, 2012 and May 18, 2012 when shares fell for seven straight days, dropping 5.9% (-$5.15) over that span.
On the top line, the company is hoping to use this earnings announcement to snap a string of two-straight quarters of revenue declines. Revenue fell 11.7% in the first quarter and dropped again in the second quarter.
Balance Sheet Analysis: The company’s current ratio of assets to liabilities came in at 0.8 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.
Analyst Ratings: With six analysts rating the stock a buy, none rating it a sell and four rating the stock a hold, there are indications of a bullish stance by analysts.
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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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