Market Overview

Earnings Preview: Continental Resources' EPS, Revenue Expected to Rise

Continental Resources (NYSE: CLR) unveils its next round of earnings on Wednesday, November 2, 2011. Here's Benzinga's advanced look at Continental Resources' third quarter earnings report.

Earnings and Revenue:

Analysts are predicting an EPS reading of 67 cents/share and revenues of $408.4 million. Continental Resources' latest numbers will no doubt be compared with the company's year-ago quarter, when it reported a profit of 42 cents/share on revenues of $219.4 million. We'll know on Wednesday whether the company has managed the estimated 59.5% increase in EPS and 86.1% rise 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 $0.61 $0.54 $0.48 $0.41
EPS Actual $0.60 $0.53 $0.51 $0.42

Stock Performance:

As of October 27, 2011, Continental Resources' current share price was $61.92. Shares are up 5.2% year to date. For a full 12 months, the return has risen by 13.7%. Given that these returns are generally positive, long-term shareholders are probably satisfied going into this earnings release.

  • Long-term shareholders are already enjoying 12-month gains prior to the announcement

Average Stock Rating:

The average rating by analysts is a Moderate Buy. This rating has strengthened slightly over the past ninety days.

Competitors:

Wondering how Continental Resources compares to rivals in the same sector? Here are a few of the company's peers.

  • Encore Energy Partners (NYSE: ENP): Hold with a $0.39 recent quarter EPS
  • GeoResources (NASDAQ: GEOI): Moderate Buy with a $0.31 recent quarter EPS
  • Atlas Energy, L.P (ATLS): Hold with a $0.67 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: Continental Resources is an independent crude oil and natural gas exploration and production company with operations in the North, South, and East regions of the United States.

Take Action:

Now that you're fully prepared, get ready to take quick action if the company reports any numbers significantly different from those listed above. Also, check back in with us after the announcement for a full recap and what-to-do-next guide.

  • To see up-to-date news on Continental Resources, click here
  • To see other trading ideas, click here
  • To see other company earnings recaps, click here

Posted-In: Earnings Long Ideas News Short Ideas Previews Trading Ideas

 

Related Articles (ATLS + CLR)

Around the Web, We're Loving...

Get Benzinga's Newsletters