Earnings Preview: Devon Energy's EPS, Revenue Expected to Rise
Devon Energy (NYSE: DVN) unveils its next round of earnings this Wednesday, November 2, 2011. Get the latest predictions in Benzinga's essential guide to the company's third quarter earnings report.
Earnings and Revenue:
Ahead of the company's earnings announcement, analysts are expecting a positive EPS reading of $1.48/share and revenues of $2.63 billion. Devon Energy's latest numbers will no doubt be compared with the company's year-ago quarter, when it reported a profit of $1.44/share on revenues of $2.35 billion. We'll have to wait for Wednesday to see if the company has accomplished the estimated 2.8% rise in EPS and 11.9% increase in revenues on a year-over-year basis.
Here's how the company's reported EPS has stacked up against analyst estimates in the past:
| Quarter | Q2 | Q1 | Q4 | Q3 |
| EPS Estimate | $1.56 | $1.30 | $1.40 | $1.29 |
| EPS Actual | $1.71 | $1.34 | $1.57 | $1.44 |
Stock Performance:
Shares of Devon Energy were trading at $66.37 as of October 27, 2011. Shares are down 14.9% year to date. For a full 12 months, the return has declined by 13.4%. Given that these returns are generally negative, long-term shareholders are probably a little upset going into this earnings release.
- Long-term shareholders are already wary of 12-month losses prior to the announcement
Average Stock Rating:
The average rating by analysts is a Moderate Buy. The strength of this rating has declined slightly over the past three months.
Competitors:
Looking for a sympathy stock to trade or interested in the performance of other companies in the same sector? Take a look at some of Devon Energy's peers.
- Anadarko Petroleum (NYSE: APC): Moderate Buy with a $1.14 recent quarter EPS
- Chesapeake Energy (NYSE: CHK): Moderate Buy with a $0.76 recent quarter EPS
- EOG Resources (NYSE: EOG): Hold with a $1.11 recent quarter EPS
- GeoResources (NASDAQ: GEOI): Moderate Buy with a $0.31 recent quarter EPS
The oil-US export and production company's industry has seen price/earnings growth of 1.1% during the current fiscal year.
Finally, a description of the company's main areas of operation: Devon Energy explores, develops and transports oil, gas, and NGLs.
Take Action:
That's your advanced look at Devon Energy's upcoming earnings numbers -- be ready to take quick action if the company's report contains any surprises. Also, check back in with us after the announcement for a full recap and what-to-do-next guide.
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