(SGY) Stone Energy Corp. – earnings of 65 cents per share vs. the consensus of 10 cents

August 5th, 2009

Stone Energy Corp. (SGY) is posting huge gains as estimates continue to surge.

Company Description

Stone Energy Corporation operates as an energy explorer in the Gulf of Mexico and Appalachia region. The company was founded in 1993 and has a market cap of $470 million.

Stone Energy is up huge over the last 4 months, taking off with the equity and energy markets. The company’s strong second-quarter results, reported on July 30, were far better than expected, giving its share price a nice pop.

Second-Quarter Results

Earnings came in at 65 cents per share, far ahead of the Zacks Consensus Estimate of 10 cents. Operating revenue was down from last year to $170.3 million.

Stone added that its daily production volumes were up 9% from last year and expects additional growth into the third quarter.

Estimates Spike

Estimates are up big over the last 90 days, helped by higher energy prices and the good quarter. The current year is up $1.25 per share to 53 cents per share. The next-year estimate is projecting 13% earnings growth.

Valuations

Based on the current-year estimate, this stock has a P/E multiple of 22X, a premium to the overall market.

The Chart

Shares of SGY have been on a big-time rally for the last months in response to higher energy prices and general economic optimism. Take a look at the bug move below.

Zacks Investment Research
View original at: Zacks.com News Feed

More on this topic (What's this?)
10 Experts Pick the 10 Best Stocks for 2012 (Money Morning, 1/10/12)
New Ivy Portfolio Tool (Scott's Investments, 1/26/12)
Popular Strategy to Yield Buy Signal (Comments for thetechnicaltake, 1/27/12)
10 Electric Vehicle Trends to Watch in 2012 (Investment U, 12/22/11)
Read more on Stone Energy, Hang Lung GRP at Wikinvest

Related Posts:

  1. (ANDE) The Andersons, Inc – beat the Consensus Estimate by 28 cents reporting earnings per share of 27 centsThe Anderson’s, Inc. (ANDE) is expected to report second-quarter results next week after beating the...
  2. (AMRI) – Albany Molecular Research – earnings of 24 cents per share, far ahead of analyst estimates of 10 centsAlbany Molecular Research, Inc. (AMRI) is weathering the current economic storm in commendable fashion. The...
  3. (HAS) – Hasbro – earnings of 25 cents per share, far ahead of analyst expectations of 15 centsHasbro, Inc. (HAS) reported strong second-quarter results on July 21 that once again outpaced analyst...
  4. (PMC) – PharMerica Corp – earnings of 20 cents per share, ahead of analyst expectations of 13 centsPharMerica Corporation (PMC) has been delivering solid returns to shareholders in 2008, as its stock...
  5. (CRMT) – America’s Carmart – earnings of 51 cents per share, blowing past analyst expectations of 28 cents per shareAmerica’s Carmart, Inc. (CRMT) is barreling forward and producing very impressive results for shareholders in...
  6. (FLO) – Flowers Foods – earnings of 39 cents per share, outpacing analyst expectations of 35 centsFlowers Foods, Inc. (FLO) has distinguished itself from other companies in 2008 by producing very...


Search Posts by Tag: | | Basic Materials | Independent Oil & Gas

RSS Feeds by Tag: SGY | Stone Energy Corp | Basic Materials | Independent Oil & Gas |

Other Posts by: | RSS Feed for this author