This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

6 Biggest Energy Earnings Reports Next Week

Stocks in this article: HALSLBBHINEMMRDO

MMR Chart MMR data by YCharts

McMoRan (MMR)

Background: McMoRan Exploration engages in the exploration, development, and production of oil and natural gas in the shallow waters of the Gulf of Mexico and onshore in the Gulf Coast area of the United States. The company was founded in 1994 and is headquartered in New Orleans, Louisiana. McMoRan trades an average of 2.3 million shares per day with a marketcap of $2 billion.

52-Week Range: $7.76 to $16.57

Book Value: $10.22

Price to Book: 1.9

Investors aren't expecting an improvement in earnings. Analysts forecast per share results below last year in the same quarter. The earnings release is planned before the market opens on Oct. 19.

The consensus estimate is currently a loss of 14 cents a share, abating 8 cents from a loss of 6 cents during the matching period in the previous year. Loss estimates from analysts range from as deep as losing18 cents per share, up to as "little" as a loss of 4 cents per share.

Real Money's Henry Schwartz writes about McMoRan in Steep and Flat Skews .

Taken as a whole, the analysts are not bestowing much direction for McMoRan. Three out of 10 analysts rate McMoRan a hold. Five recommend this company as a buy and 1 recommends selling. Shares appreciated 8.4% in the last year, and the average analyst target price for McMoRan Exploration Co. is $14.06.

Shares have sold off since summer, but are not extremely oversold yet. Without beating estimates for the quarter and raising guidance, it appears McMoRan may test single-digit prices again soon.

Short interest with this stock is very high. More than one in five shares is short. Shorts are the smart money, but when they pile on this hard it can backfire too. The proportion of the float short is 22.2%. If they can hit the ball out of the bark, McMoRan has the makings for a short squeeze.

Weinstein Stock Tip: Expect upward price action leading up toward the release as shorts cover and or hedge with options. Don't assume increases leading up to the release are a result of favorable results leaked.

MMR Revenue Quarterly Chart MMR Revenue Quarterly data by YCharts

2 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,195.42 +221.11 1.30%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,566.1380 +16.9120 0.37%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs