Wall Street brokerages forecast that Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) will post earnings per share of $0.05 for the current quarter, according to Zacks. Two analysts have made estimates for Cenovus Energy’s earnings. The highest EPS estimate is $0.09 and the lowest is $0.03. Cenovus Energy posted earnings per share of ($0.22) in the same quarter last year, which suggests a positive year-over-year growth rate of 122.7%. The company is scheduled to announce its next quarterly earnings results before the market opens on Thursday, November 2nd.

On average, analysts expect that Cenovus Energy will report full-year earnings of $0.36 per share for the current fiscal year, with EPS estimates ranging from $0.16 to $0.54. For the next financial year, analysts expect that the firm will report earnings of $0.28 per share, with EPS estimates ranging from ($0.32) to $0.92. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Cenovus Energy.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.24. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.40 billion. Cenovus Energy had a net margin of 17.89% and a return on equity of 3.20%. During the same period last year, the company posted ($0.05) EPS.

A number of analysts have recently commented on CVE shares. BidaskClub raised Cenovus Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Macquarie cut Cenovus Energy from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 21st. Canaccord Genuity raised Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $8.00 target price on shares of Cenovus Energy in a research note on Thursday, June 22nd. Finally, National Bank Financial started coverage on Cenovus Energy in a research note on Tuesday, June 27th. They set a “sector perform” rating for the company. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $17.11.

A number of hedge funds have recently bought and sold shares of the business. Gateway Investment Advisers LLC increased its position in Cenovus Energy by 0.5% during the 2nd quarter. Gateway Investment Advisers LLC now owns 75,312 shares of the oil and gas company’s stock worth $555,000 after buying an additional 376 shares during the period. Intact Investment Management Inc. increased its position in Cenovus Energy by 0.4% during the 2nd quarter. Intact Investment Management Inc. now owns 151,950 shares of the oil and gas company’s stock worth $1,446,000 after buying an additional 600 shares during the period. Bank of Nova Scotia Trust Co. increased its position in Cenovus Energy by 2.6% during the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 28,366 shares of the oil and gas company’s stock worth $209,000 after buying an additional 725 shares during the period. Neuberger Berman Group LLC increased its position in Cenovus Energy by 7.4% during the 1st quarter. Neuberger Berman Group LLC now owns 12,992 shares of the oil and gas company’s stock worth $147,000 after buying an additional 900 shares during the period. Finally, Capstone Asset Management Co. increased its position in Cenovus Energy by 1.6% during the 2nd quarter. Capstone Asset Management Co. now owns 87,709 shares of the oil and gas company’s stock worth $646,000 after buying an additional 1,350 shares during the period. Hedge funds and other institutional investors own 56.17% of the company’s stock.

Shares of Cenovus Energy (CVE) opened at 9.61 on Wednesday. The firm has a market cap of $11.81 billion, a P/E ratio of 3.92 and a beta of 0.60. Cenovus Energy has a 12-month low of $6.76 and a 12-month high of $16.82. The company has a 50-day moving average of $8.96 and a 200 day moving average of $8.91.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a dividend of $0.039 per share. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.16 annualized dividend and a yield of 1.62%. Cenovus Energy’s dividend payout ratio (DPR) is currently 8.89%.

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Earnings History and Estimates for Cenovus Energy (NYSE:CVE)

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