Encana Corp (ECA) Expected to Announce Earnings of $0.05 Per Share
Wall Street analysts expect that Encana Corp (NYSE:ECA) (TSE:ECA) will report earnings of $0.05 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Encana Corp’s earnings, with the highest EPS estimate coming in at $0.06 and the lowest estimate coming in at $0.04. Encana Corp posted earnings of $0.10 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 50%. The firm is expected to announce its next earnings report on Thursday, July 20th.
On average, analysts expect that Encana Corp will report full-year earnings of $0.32 per share for the current year, with EPS estimates ranging from $0.23 to $0.45. For the next financial year, analysts forecast that the firm will post earnings of $0.75 per share, with EPS estimates ranging from $0.54 to $1.07. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Encana Corp.
Encana Corp (NYSE:ECA) last released its quarterly earnings data on Tuesday, May 2nd. The oil and gas company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.08. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $789.49 million. Encana Corp had a negative net margin of 40.77% and a positive return on equity of 1.79%. During the same quarter in the previous year, the business posted ($0.15) EPS.
A number of analysts recently commented on ECA shares. Zacks Investment Research raised Encana Corp from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Wednesday, February 15th. Canaccord Genuity reaffirmed a “buy” rating and issued a $14.00 price target on shares of Encana Corp in a research note on Saturday, March 11th. BMO Capital Markets set a $13.00 price target on Encana Corp and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Jefferies Group LLC set a $14.00 price target on Encana Corp and gave the stock a “buy” rating in a research note on Wednesday, May 17th. Finally, Desjardins set a $13.00 price target on Encana Corp and gave the stock a “hold” rating in a research note on Thursday, April 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $13.83.
Shares of Encana Corp (NYSE:ECA) opened at 10.63 on Friday. The stock has a 50 day moving average of $11.13 and a 200 day moving average of $11.75. Encana Corp has a 1-year low of $7.22 and a 1-year high of $13.85. The company’s market cap is $10.34 billion.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Tuesday, June 13th. Encana Corp’s dividend payout ratio (DPR) is -3.97%.
In other news, Director Clayton Harvey Woitas purchased 12,300 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were acquired at an average price of $10.65 per share, with a total value of $130,995.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders have bought a total of 28,700 shares of company stock worth $302,329 in the last three months. Corporate insiders own 0.26% of the company’s stock.
Several large investors have recently made changes to their positions in the company. CIBC World Markets Inc. raised its stake in Encana Corp by 20.4% in the third quarter. CIBC World Markets Inc. now owns 14,613,153 shares of the oil and gas company’s stock worth $153,000,000 after buying an additional 2,474,832 shares during the last quarter. Eqis Capital Management Inc. raised its stake in Encana Corp by 44.7% in the first quarter. Eqis Capital Management Inc. now owns 37,687 shares of the oil and gas company’s stock worth $441,000 after buying an additional 11,642 shares during the last quarter. Fiera Capital Corp raised its stake in Encana Corp by 14.1% in the fourth quarter. Fiera Capital Corp now owns 2,592,438 shares of the oil and gas company’s stock worth $30,377,000 after buying an additional 319,371 shares during the last quarter. Allianz Asset Management AG bought a new stake in Encana Corp during the fourth quarter worth about $370,000. Finally, Koch Industries Inc. bought a new stake in Encana Corp during the fourth quarter worth about $202,000. 64.57% of the stock is currently owned by institutional investors and hedge funds.
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Encana Corp Company Profile
Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. 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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