McMoRan Exploration (NYSE: MMR ) is expected to report Q3 earnings around Oct. 19. Here's what Wall Street wants to see:
The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict McMoRan Exploration's revenues will drop -37.0% and EPS will remain in the red.
The average estimate for revenue is $87.0 million. On the bottom line, the average EPS estimate is -$0.14.
Last quarter, McMoRan Exploration reported revenue of $90.3 million. GAAP reported sales were 43% lower than the prior-year quarter's $158.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Last quarter, non-GAAP EPS came in at -$0.46. GAAP EPS were -$0.47 for Q2 versus -$0.32 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 preceding quarter, gross margin was 64.4%, 280 basis points worse than the prior-year quarter. Operating margin was -71.3%, 4,080 basis points worse than the prior-year quarter. Net margin was -72.2%, 4,700 basis points worse than the prior-year quarter.
The full year's average estimate for revenue is $370.4 million. The average EPS estimate is -$0.52.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 510 members out of 529 rating the stock outperform, and 19 members rating it underperform. Among 119 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 113 give McMoRan Exploration a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on McMoRan Exploration is outperform, with an average price target of $13.44.
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