Encana Corporation to Post Q2 2018 Earnings of $0.17 Per Share, Jefferies Group Forecasts (ECA)
Encana Corporation (NYSE:ECA) (TSE:ECA) – Research analysts at Jefferies Group lifted their Q2 2018 earnings per share (EPS) estimates for Encana Corporation in a report issued on Monday. Jefferies Group analyst Z. Parham now anticipates that the oil and gas company will post earnings per share of $0.17 for the quarter, up from their previous forecast of $0.16. Jefferies Group currently has a “Buy” rating and a $12.00 target price on the stock. Jefferies Group also issued estimates for Encana Corporation’s Q3 2018 earnings at $0.21 EPS and FY2018 earnings at $0.78 EPS.
Encana Corporation (NYSE:ECA) (TSE:ECA) last posted its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.15. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $773.19 million. Encana Corporation had a net margin of 19.09% and a return on equity of 6.25%. During the same period in the previous year, the firm earned $0.10 EPS.
Several other brokerages also recently weighed in on ECA. GMP Securities restated a “buy” rating and set a $16.00 price target on shares of Encana Corporation in a report on Friday, September 29th. TD Securities restated a “buy” rating and set a $12.50 price target on shares of Encana Corporation in a report on Sunday, October 1st. Macquarie upgraded Encana Corporation from a “neutral” rating to an “outperform” rating and raised their price target for the company from $10.00 to $14.50 in a report on Thursday, September 28th. Barclays PLC raised their price target on Encana Corporation from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Royal Bank Of Canada raised their price target on Encana Corporation from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $13.63.
Encana Corporation (NYSE ECA) traded down 0.52% during trading on Thursday, reaching $11.48. 4,685,357 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $10.47 and a 200-day moving average of $10.19. The stock has a market cap of $11.17 billion, a PE ratio of 13.68 and a beta of 2.12. Encana Corporation has a 12 month low of $8.01 and a 12 month high of $13.85.
A number of large investors have recently made changes to their positions in the business. Causeway Capital Management LLC boosted its position in Encana Corporation by 95.2% in the first quarter. Causeway Capital Management LLC now owns 48,768,776 shares of the oil and gas company’s stock worth $571,082,000 after purchasing an additional 23,779,815 shares during the last quarter. BlackRock Inc. boosted its position in Encana Corporation by 15.4% in the second quarter. BlackRock Inc. now owns 25,264,984 shares of the oil and gas company’s stock worth $222,330,000 after purchasing an additional 3,368,871 shares during the last quarter. Vanguard Group Inc. boosted its position in Encana Corporation by 4.3% in the second quarter. Vanguard Group Inc. now owns 23,620,300 shares of the oil and gas company’s stock worth $207,858,000 after purchasing an additional 982,600 shares during the last quarter. FMR LLC boosted its position in Encana Corporation by 6.3% in the first quarter. FMR LLC now owns 22,080,449 shares of the oil and gas company’s stock worth $258,686,000 after purchasing an additional 1,309,218 shares during the last quarter. Finally, Steadfast Capital Management LP boosted its position in Encana Corporation by 5.0% in the second quarter. Steadfast Capital Management LP now owns 20,963,596 shares of the oil and gas company’s stock worth $184,480,000 after purchasing an additional 989,023 shares during the last quarter. 66.76% of the stock is currently owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.015 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.06 annualized dividend and a yield of 0.52%. Encana Corporation’s payout ratio is 6.98%.
About Encana Corporation
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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