Encana (ECA) Posts Quarterly Results
Encana (NYSE:ECA) posted its quarterly earnings results on Tuesday. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.17, Analyst Ratings Network.com reports. During the same quarter in the previous year, the company posted $0.24 earnings per share.
Shares of Encana (NYSE:ECA) opened at 22.56 on Tuesday. Encana has a one year low of $16.48 and a one year high of $23.93. The stock has a 50-day moving average of $22.37 and a 200-day moving average of $19.56. The company has a market cap of $16.715 billion and a P/E ratio of 70.12. Encana also was the target of a large decline in short interest in April. As of April 30th, there was short interest totalling 15,293,443 shares, a decline of 16.7% from the April 15th total of 18,364,432 shares. Based on an average daily trading volume, of 4,882,304 shares, the short-interest ratio is presently 3.1 days. Currently, 2.1% of the shares of the company are sold short.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.24%.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank raised their price target on shares of Encana from C$26.00 to C$30.00 in a research note on Thursday, May 8th. They now have a “hold” rating on the stock. On a related note, analysts at CSFB raised their price target on shares of Encana from C$22.00 to C$27.00 in a research note on Thursday, May 8th. They now have a “neutral” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of Encana from C$26.00 to C$27.00 in a research note on Thursday, May 8th. They now have an “outperform” rating on the stock. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $25.03.
Encana Corporation (NYSE:ECA) is a North American energy producer.
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