Magnum Hunter Resources Increases Sales but Misses Revenue Estimate
Magnum Hunter Resources (NYS: MHR) reported earnings on May 3. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Magnum Hunter Resources missed estimates on revenues and exceeded expectations on earnings per share.
Compared with the prior-year quarter, revenue improved significantly and GAAP loss per share expanded.
Margins grew across the board.
Magnum Hunter Resources tallied revenue of $57.2 million. The seven analysts polled by S&P Capital IQ foresaw net sales of $59.1 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $15.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.01. The 12 earnings estimates compiled by S&P Capital IQ forecast -$0.03 per share. GAAP EPS were -$0.13 for Q1 versus -$0.12 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 68.9%, 180 basis points better than the prior-year quarter. Operating margin was -20.2%, 700 basis points better than the prior-year quarter. Net margin was -21.8%, 2,190 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $69.8 million. On the bottom line, the average EPS estimate is -$0.03.
Next year's average estimate for revenue is $293.9 million. The average EPS estimate is -$0.03.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 156 members out of 168 rating the stock outperform, and 12 members rating it underperform. Among 28 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 20 give Magnum Hunter Resources a green thumbs-up, and eight give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Magnum Hunter Resources is buy, with an average price target of $8.54.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings. He is the co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.