Devon Energy (NYSE: DVN) is expected to report Q3 earnings on Nov. 7. 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 Devon Energy's revenues will wither -33.7% and EPS will contract -54.5%.
The average estimate for revenue is $2.32 billion. On the bottom line, the average EPS estimate is $0.70.
Revenue details
Last quarter, Devon Energy tallied revenue of $2.56 billion. GAAP reported sales were 32% lower than the prior-year quarter's $2.80 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
Last quarter, non-GAAP EPS came in at $0.55. GAAP EPS of $1.18 for Q2 were 82% lower than the prior-year quarter's $6.54 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Recent performance
For the preceding quarter, gross margin was 61.9%, 570 basis points worse than the prior-year quarter. Operating margin was 46.3%, 740 basis points worse than the prior-year quarter. Net margin was 25.2%, 7,260 basis points worse than the prior-year quarter.
Looking ahead
The full year's average estimate for revenue is $9.78 billion. The average EPS estimate is $3.14.
Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,133 members out of 2,187 rating the stock outperform, and 54 members rating it underperform. Among 477 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 468 give Devon Energy a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Devon Energy is outperform, with an average price target of $83.80.
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