FY2016 Earnings Forecast for Encana Corp. (ECA) Issued By Jefferies Group
Encana Corp. (NYSE:ECA) – Equities researchers at Jefferies Group increased their FY2016 earnings per share (EPS) estimates for Encana Corp. in a research report issued on Wednesday. Jefferies Group analyst J. Wolff now anticipates that the brokerage will post earnings per share of $0.00 for the year, up from their prior forecast of ($0.02). Jefferies Group currently has a “Buy” rating and a $14.00 target price on the stock. Jefferies Group also issued estimates for Encana Corp.’s Q4 2016 earnings at $0.04 EPS.
Several other brokerages also recently commented on ECA. Deutsche Bank AG raised their price target on shares of Encana Corp. from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday. Macquarie raised shares of Encana Corp. from an “underperform” rating to a “neutral” rating in a report on Thursday. GMP Securities raised shares of Encana Corp. from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Thursday. Credit Suisse Group AG assumed coverage on shares of Encana Corp. in a report on Thursday. They set an “outperform” rating and a $14.00 price objective for the company. Finally, BMO Capital Markets set a $14.00 price objective on shares of Encana Corp. and gave the stock a “buy” rating in a report on Thursday. Three research 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. The company currently has an average rating of “Hold” and an average price target of $11.46.
Shares of Encana Corp. (NYSE:ECA) opened at 10.86 on Monday. The firm’s 50-day moving average is $9.92 and its 200-day moving average is $8.13. The company’s market cap is $9.23 billion. Encana Corp. has a 12 month low of $3.00 and a 12 month high of $11.23.
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Encana Corp. (NYSE:ECA) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.19. Encana Corp. had a negative net margin of 81.73% and a positive return on equity of 0.79%. During the same quarter in the previous year, the company earned ($0.20) EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.55%. The ex-dividend date was Tuesday, September 13th. Encana Corp.’s payout ratio is currently -1.79%.
A number of large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Encana Corp. during the fourth quarter valued at approximately $33,438,000. BlackRock Inc. raised its stake in Encana Corp. by 7,416.7% in the first quarter. BlackRock Inc. now owns 473,551 shares of the company’s stock valued at $2,884,000 after buying an additional 467,251 shares during the last quarter. BlackRock Group LTD raised its stake in Encana Corp. by 7,634.4% in the first quarter. BlackRock Group LTD now owns 13,148,536 shares of the company’s stock valued at $80,074,000 after buying an additional 12,978,536 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in Encana Corp. during the first quarter valued at approximately $187,000. Finally, Bessemer Group Inc. raised its stake in Encana Corp. by 50.1% in the first quarter. Bessemer Group Inc. now owns 60,528 shares of the company’s stock valued at $368,000 after buying an additional 20,210 shares during the last quarter. 57.44% of the stock is currently owned by institutional investors and hedge funds.
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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