Stocks Trading Higher Before Earnings

Discovery Communications Inc (NASDAQ:DISCA) will unveil its latest earnings on Thursday, February 16, 2012. The average estimate of analysts is for profit of 69 cents per share, a rise of 30.2% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. Analysts are projecting profit to rise by 34.3% versus last year to $2.39.

Last quarter, the company beat estimates by 4 cents, coming in at net income of 59 cents a share versus the estimate of profit of 55 cents a share. It marked the fourth straight quarter of beating estimates. Analysts are projecting a rise of 8.8% in revenue from the year-earlier quarter to $1.11 billion.

Competitors to Watch: Scripps Networks Interactive, Inc. (NYSE:SNI), CBS Corporation (NYSE:CBS), Outdoor Channel Hldgs., Inc. (NASDAQ:OUTD), Liberty Media Corp (NASDAQ:LINTA), The Walt Disney Company (NYSE:DIS), News Corporation (NASDAQ:NWSA), Madison Square Garden, Inc. (NASDAQ:MSG), Time Warner Inc. (NYSE:TWX), and Point.360 (NASDAQ:PTSX).

Cabot Oil & Gas Corporation (NYSE:COG) will unveil its latest earnings on Monday, February 20, 2012. The average estimate of analysts is for net income of 14 cents per share, a rise of 55.6% 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 17 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 15 cents during the last month. Analysts are projecting profit to rise by 18.4% versus last year to 58 cents.

The company missed estimates last quarter after beating forecasts in the prior two. In the third quarter, the company reported profit of 14 cents per share versus a mean estimate of net income of 17 cents per share. In the second quarter, the company beat estimates by 3 cents. Analysts predict a rise of 22.2% in revenue from the year-earlier quarter to $265.1 million.

Competitors to Watch: EOG Resources, Inc. (NYSE:EOG), Pinnacle Gas Resources, Inc. (PINN), Vanguard Natural Resources, LLC (NYSE:VNR), Magnum Hunter Resources Corp (NYSE:MHR), Anadarko Petroleum Corp. (NYSE:APC), PrimeEnergy Corporation (NASDAQ:PNRG), SM Energy Co. (NYSE:SM), EV Energy Partners, L.P. (NASDAQ:EVEP), Continental Resources, Inc. (NYSE:CLR), and Range Resources Corp. (NYSE:RRC).

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com