Devon Energy's Earnings Outlook
Portfolio Pulse from Benzinga Insights
Devon Energy (NYSE:DVN) is scheduled to release its quarterly earnings report on February 27, 2024, with analysts estimating an EPS of $1.40. The company's past earnings performance shows a pattern of beating EPS estimates but experiencing a subsequent drop in share price. Over the last year, DVN shares have declined by 19.07%, indicating a bearish outlook among long-term shareholders. Investors will be keenly watching for the company's guidance for the next quarter, which could significantly impact the stock price.
February 26, 2024 | 3:01 pm
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NEGATIVE IMPACT
Devon Energy is expected to report an EPS of $1.40 for the upcoming quarter. Historical data shows that despite beating EPS estimates, DVN's share price tends to drop post-earnings announcement. With a 19.07% decline over the past year, investor sentiment appears bearish.
The expected EPS of $1.40 and historical performance suggest that even if DVN beats the estimate, the stock price might still face downward pressure, as seen in past quarters. The overall bearish sentiment, indicated by a 19.07% decline over the past year, further supports a negative short-term impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100