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Monday 25 May 2015
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Tuesday’s Stocks Plunging - ENSCO (NYSE:ESV), Magnum Hunter Resources (NYSE:MHR), Eldorado Gold (NYSE:EGO), Dicks Sporting Goods (NYSE:DKS)

On Tuesday, ENSCO PLC (NYSE:ESV)’s shares declined -2.38% to $24.66.

ENSCO PLC (ESV) declared that its Board of Directors has declared a regular quarterly cash dividend of US$0.15 per Class A ordinary share payable on 19 June 2015. The ex-dividend date for this payment is predictable to be 4 June 2015, with a record date of 8 June 2015.

Ensco declared at its annual general meeting of shareholders on 18 May 2015 that the vast majority of shares cast were voted “For” all proposals in its 1 April 2015 proxy statement.

Ensco plc provides offshore contract drilling services to the oil and gas industry worldwide. The company operates through three segments: Floaters, Jackups, and Other. The company owns and operates offshore drilling rig fleet of 70 rigs, counting 10 drillships, 13 semisubmersible rigs, 5 moored semisubmersible rigs, and 42 jackup rigs located in North and South America, the Middle East and Africa, the Asia Pacific rim, Europe and the Mediterranean, and Brazil.

Magnum Hunter Resources Corp (NYSE:MHR)’s shares dropped -7.02% to $1.59.

Magnum Hunter Resources Corp (MHR) declared recently financial and operating results for the three months ended March 31, 2015. The Company plans to file its Form 10-Q for the quarter ended March 31, 2015 with the Securities and Exchange Commission later recently, Monday, May 11, 2015. Highlights of the Company’s financial and operating results comprise the following:

  • Proved reserves raised 73% in first quarter 2015 to 869.2 Bcfe (75% natural gas)
  • Stated production of 163.6 MMcfe/d (27,261 Boe/d) for first quarter 2015, a 66% enhance over the preceding year comparable quarter
  • First quarter 2015 production mix of 74% natural gas, 13% NGLs and 13% oil
  • Average realized natural gas price for first quarter 2015 was $2.91 per Mcf (a $0.04 positive differential to the average NYMEX price for the period)
  • Recent record throughput volumes on Eureka Hunter Pipeline System of about 623,713 MMBtu/d
  • Production costs per Mcfe for first quarter 2015 declined 36% to $0.94, contrast to the preceding year comparable quarter
  • Adjusted EBITDAX(a)for first quarter 2015 was $13.4 million

Magnum Hunter Resources Corporation, an independent oil and gas company, explores for, exploits, acquires, develops, and produces crude oil, natural gas, and natural gas liquid resources in the United States.

At the end of Tuesday’s trade, Eldorado Gold Corp (USA) (NYSE:EGO)‘s shares dipped -4.91% to $4.84.

Eldorado Gold Corp (USA) (EGO) in accordance with Toronto Stock Exchange requirements, declared the voting results for the election of its Board of Directors at the Company’s Annual Meeting of Shareholders held on April 30, 2015 in Vancouver, British Columbia.

The results of the other matters considered at the meeting are stated in the Report on Voting Results as filed on SEDAR on May 1, 2015.

Eldorado Gold Corporation, together with its auxiliaries, engages in the exploration, discovery, development, production, and reclamation of gold properties, primarily in Brazil, China, Greece, Turkey, and Romania. It also explores for iron, silver, lead, zinc, and copper ores.

Dicks Sporting Goods Inc (NYSE:DKS), ended its Tuesday’s trading session with -5.08% loss, and closed at $53.43.

Dicks Sporting Goods Inc (DKS) stated sales and earnings results for the first quarter ended May 2, 2015.

First Quarter Results

The Company stated merged net income for the first quarter ended May 2, 2015 of $63.3 million, or $0.53 per diluted share, contrast to the Company’s expectations offered on March 3, 2015 of $0.49 to 0.53 per diluted share. For the first quarter ended May 3, 2014, the Company stated merged non-GAAP net income of $61.3 million, or $0.50 per diluted share, not taking into account a gain on the sale of an asset.

Omni-channel Development

eCommerce penetration for the first quarter of 2015 was 8.5% of total sales, contrast to 7.0% during the first quarter of 2014.

In the first quarter, the Company opened nine new DICK’S Sporting Goods stores and one new Field & Stream store. The Company also relocated one DICK’S Sporting Goods store and one Golf Galaxy store. As of May 2, 2015, the Company operated 612 DICK’S Sporting Goods stores in 46 states, with about 32.7 million square feet, 78 Golf Galaxy stores in 29 states, with about 1.4 million square feet and eleven Field & Stream stores in six states, with about 0.6 million square feet.

Balance Sheet

The Company ended the first quarter of 2015 with about $81 million in cash and cash equivalents and about $51 million in outstanding borrowings under its revolving credit facility. Over the course of the last 12 months, the Company utilized capital to invest in omni-channel growth and returned over $385 million to shareholders through share repurchases and quarterly dividends. Total inventory raised 9.7% at the end of the first quarter of 2015 as contrast to the end of the first quarter of 2014.

Dick’s Sporting Goods, Inc. operates as a sporting goods retailer primarily in the eastern United States. The company provides hardlines, counting sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear products and accessories.

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Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.

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