Q1 2017 EPS Estimates for Encana Corp. (ECA) Reduced by Jefferies Group
Encana Corp. (NYSE:ECA) – Investment analysts at Jefferies Group dropped their Q1 2017 earnings estimates for shares of Encana Corp. in a report released on Wednesday. Jefferies Group analyst J. Wolff now expects that the brokerage will earn $0.01 per share for the quarter, down from their prior forecast of $0.03. Jefferies Group has a “Buy” rating and a $14.00 price objective on the stock. Jefferies Group also issued estimates for Encana Corp.’s Q2 2017 earnings at $0.04 EPS, Q3 2017 earnings at $0.07 EPS, Q4 2017 earnings at $0.15 EPS and FY2017 earnings at $0.27 EPS.
Encana Corp. (NYSE:ECA) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.19. Encana Corp. had a positive return on equity of 0.79% and a negative net margin of 81.73%. During the same quarter in the previous year, the firm earned ($0.20) EPS.
Several other equities analysts have also recently weighed in on ECA. Deutsche Bank AG raised their price target on Encana Corp. from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, June 14th. Macquarie cut Encana Corp. from a “neutral” rating to an “underperform” rating in a report on Thursday, June 23rd. BMO Capital Markets reaffirmed a “buy” rating on shares of Encana Corp. in a research report on Wednesday, June 22nd. AltaCorp Capital lowered Encana Corp. from an “outperform” rating to a “speculative” rating in a research report on Thursday, July 7th. Finally, Zacks Investment Research lowered Encana Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $11.11.
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Shares of Encana Corp. (NYSE:ECA) traded up 0.419% during midday trading on Friday, hitting $10.775. The stock had a trading volume of 11,159,741 shares. The firm’s market cap is $9.16 billion. Encana Corp. has a 12 month low of $3.00 and a 12 month high of $11.23. The stock’s 50 day moving average price is $9.90 and its 200 day moving average price is $8.10.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Tuesday, September 13th. Encana Corp.’s dividend payout ratio is presently -1.79%.
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Encana Corp. by 9.8% in the second quarter. Vanguard Group Inc. now owns 17,708,640 shares of the company’s stock worth $137,950,000 after buying an additional 1,585,668 shares in the last quarter. BlackRock Group LTD increased its position in shares of Encana Corp. by 7,634.4% in the first quarter. BlackRock Group LTD now owns 13,148,536 shares of the company’s stock worth $80,074,000 after buying an additional 12,978,536 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Encana Corp. during the second quarter worth $54,865,000. Norges Bank bought a new position in shares of Encana Corp. during the fourth quarter worth $33,438,000. Finally, Key Group Holdings Cayman LTD. bought a new position in shares of Encana Corp. during the second quarter worth $39,161,000. 64.68% of the stock is owned by institutional investors.
About Encana Corp.
Encana Corp is a Canada-based energy producer, which is engaged in the business of exploration, development, production and marketing of natural gas, oil and natural gas liquids (NGLs). The Company’s operations also include the marketing of natural gas, oil and NGLs. All of its reserves and production are located in North America.
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