Research Analysts Set Expectations for Cenovus Energy Inc’s FY2018 Earnings (CVE)
Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) – Equities researchers at Cormark decreased their FY2018 earnings per share estimates for Cenovus Energy in a report released on Wednesday. Cormark analyst A. Arif now anticipates that the company will earn $0.28 per share for the year, down from their prior forecast of $0.48. Cormark also issued estimates for Cenovus Energy’s FY2019 earnings at $0.49 EPS.
A number of other analysts have also weighed in on CVE. Canaccord Genuity raised their target price on Cenovus Energy from C$14.00 to C$14.50 in a research note on Wednesday. CSFB lowered their target price on Cenovus Energy from C$20.00 to C$15.00 and set an “outperform” rating for the company in a research note on Monday, August 21st. BMO Capital Markets lowered their target price on Cenovus Energy from C$20.00 to C$17.00 and set a “market perform” rating for the company in a research note on Tuesday, July 4th. National Bank Financial lowered their target price on Cenovus Energy from C$11.50 to C$11.00 and set a “sector perform” rating for the company in a research note on Wednesday. Finally, TD Securities lowered Cenovus Energy from a “buy” rating to a “hold” rating and lowered their target price for the company from C$15.50 to C$11.50 in a research note on Friday, June 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Cenovus Energy presently has a consensus rating of “Buy” and a consensus target price of C$17.25.
Shares of Cenovus Energy (TSE CVE) traded down 2.02% during trading on Friday, reaching $9.97. 471,138 shares of the company were exchanged. The stock has a market capitalization of $12.24 billion and a P/E ratio of 3.35. The stock has a 50-day moving average of $9.86 and a 200 day moving average of $12.47. Cenovus Energy has a 52-week low of $8.89 and a 52-week high of $22.06.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.05 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a yield of 1.97%.
In other news, insider Ivor Melvin Ruste acquired 10,000 shares of the stock in a transaction that occurred on Thursday, July 6th. The stock was purchased at an average cost of C$9.16 per share, for a total transaction of C$91,600.00.
About Cenovus Energy
Cenovus Energy Inc develops, produces, and markets crude oil, natural gas liquids (NGLs), and natural gas in Canada. Its Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segments bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.
Receive News & Ratings for Cenovus Energy Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy Inc and related companies with MarketBeat.com's FREE daily email newsletter.