Cenovus Energy (TSE:CVE) opened at C$23.69 on Monday, with a market cap of C$45.25 billion, a P/E ratio of 7.40 and a beta of 2.93. The company has maintained a bullish price curve, with the recent high being C$31.19 and the new low being C$19.90. While the quick ratio hovers around one, current ratio is 1.55 indicating good financial standing.
While previously recommended as a “Focus stock” by JPMorgan Chase & Co., this energy company has recently been receiving mixed reviews from multiple analysts including ATB Capital, CIBC, National Bank Financial and Morgan Stanley who have all lowered their price targets due to downsides in its earnings report for Q4-2016 which subsequently saw its stock drop by over $2 from its prior trading price for that timeline.
Notwithstanding these setbacks, the consensus rating of “Buy” assigned by Bloomberg.com alongside an average target price of C$32.62 further buttresses confidence in this company’s resilience.
Recent insider transactions have created some buzz around CVE; Senior Officer Jonathan Michael Mckenzie sold 220,264 shares of Cenovus Energy stock worth approximately C$5,658,494 while Senior Officer Norrie Carson Ramsay purchased 2,000 shares at an average cost of C$24.28 per share.
For Q4-2016 earnings report; despite reporting revenue above the consensus estimate at CAD14.06 billion compared to CAD13.07 billion, and the fact that the company posted positive net income margining at 9%, it fell short on EPS expectation reporting earnings per share (EPS) for the quarter at CAD0.39 while missing analyst expectations by CAD0.25/CAD0.64 shortfall.
In conclusion and going forward into Q3-Q42017; investors will be observing closely for the efficacy of Cenovus Energy’s turnaround which is expected to boost its margin profit, and growth following the cost cutting measures that have been implemented.
Cenovus Energy Inc. Q1 2023 Earnings Per Share Estimates: Positive Outlook for Investors
Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) has just released its Q1 2023 earnings per share estimates, and things are looking up. According to Zacks Research analyst U. Dutta, the company is set to earn $0.42 per share this quarter – good news for investors who are looking for a profitable return on their investment.
This news follows the recent disclosure of Cenovus Energy’s quarterly dividend, which was paid out on March 31st to stockholders of record as of March 14th. The $0.105 dividend represents an annualized dividend yield of 1.77%, and a payout ratio of 13.44%.
But what about the future? Zacks Research also issued estimates for Cenovus Energy’s Q2-4 earnings in 2023, stating that EPS could reach $0.53, $0.58 and $0.56, respectively. And full year 2023 earnings per share are forecasted at a rate of $2.09.
What about beyond 2023? Investors can expect Q1-4 earnings in 2024 to range from $0.65-$0.76 EPS and full year earnings to reach approximately $2.80 per share in total for the year.
But it doesn’t stop there – projections extend all the way into year-end FY2025, with estimated earnings per share ranging from $0.40-$1.91.
It’s clear that Cenovus Energy is well-positioned for growth in the coming years, but how will they leverage these predictions to create long-term value for their shareholders? Only time will tell, but investors can rest assured knowing that their investments are backed by concrete data and analysis from respected financial research advisors like Zacks Research.
The energy sector is constantly evolving with rising technological advancements and market fluctuations, so it’s important to keep an eye on the company’s performance to ensure your investment is safe and secure. Stay tuned for further updates and developments from Cenovus Energy as their journey continues.