Jefferies Group Equities Analysts Raise Earnings Estimates for Encana Corp (ECA)
Encana Corp (TSE:ECA) (NYSE:ECA) – Equities researchers at Jefferies Group increased their Q3 2017 earnings per share (EPS) estimates for shares of Encana Corp in a report released on Monday. Jefferies Group analyst Z. Parham now expects that the company will post earnings per share of $0.17 for the quarter, up from their prior forecast of $0.14. Jefferies Group also issued estimates for Encana Corp’s Q4 2017 earnings at $0.23 EPS, FY2017 earnings at $0.76 EPS, Q1 2018 earnings at $0.27 EPS, Q2 2018 earnings at $0.30 EPS, Q3 2018 earnings at $0.34 EPS, Q4 2018 earnings at $0.42 EPS and FY2018 earnings at $1.33 EPS.
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Other equities analysts also recently issued research reports about the stock. TD Securities increased their price target on shares of Encana Corp to C$15.50 and gave the stock a “buy” rating in a research note on Monday, July 24th. AltaCorp Capital raised shares of Encana Corp from a “sector perform” rating to an “outperform” rating in a research note on Monday, July 24th. BMO Capital Markets reaffirmed an “outperform” rating and set a C$13.00 price target on shares of Encana Corp in a research note on Wednesday, June 21st. Royal Bank Of Canada increased their price target on shares of Encana Corp to C$16.25 and gave the stock an “outperform” rating in a research note on Monday, July 24th. Finally, Raymond James Financial, Inc. started coverage on shares of Encana Corp in a research note on Wednesday, May 31st. They set an “outperform” rating and a C$20.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Encana Corp currently has a consensus rating of “Buy” and an average price target of C$16.35.
Shares of Encana Corp (TSE ECA) opened at 11.59 on Thursday. The firm has a 50-day moving average price of $11.99 and a 200-day moving average price of $13.94. The stock has a market cap of $11.28 billion and a price-to-earnings ratio of 13.81. Encana Corp has a 12 month low of $10.54 and a 12 month high of $18.13.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Thursday, September 14th.
About Encana Corp
Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids in Canada and the United States. The company owns interests in various assets, such as the Montney in northern British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations, including Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke located offshore Nova Scotia.
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