Cormark Weighs in on Encana Corporation’s Q3 2017 Earnings (ECA)
Encana Corporation (NYSE:ECA) (TSE:ECA) – Cormark upped their Q3 2017 earnings estimates for Encana Corporation in a note issued to investors on Thursday. Cormark analyst A. Arif now forecasts that the oil and gas company will earn $0.07 per share for the quarter, up from their prior estimate of $0.06. Cormark also issued estimates for Encana Corporation’s Q3 2018 earnings at $0.17 EPS.
Encana Corporation (NYSE:ECA) (TSE:ECA) last announced its earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.15. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates 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 business posted $0.10 earnings per share.
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Other equities analysts have also issued reports about the stock. Scotiabank raised shares of Encana Corporation from an “underperform” rating to a “sector perform” rating and set a $11.00 price target for the company in a research report on Friday, June 30th. TD Securities reissued a “buy” rating and set a $12.50 price target on shares of Encana Corporation in a research report on Sunday, October 1st. Raymond James Financial, Inc. raised shares of Encana Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada lowered shares of Encana Corporation to a “hold” rating in a research report on Wednesday, July 5th. Finally, UBS AG raised shares of Encana Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and four have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $14.11.
Shares of Encana Corporation (NYSE:ECA) opened at 11.38 on Monday. The company has a market capitalization of $11.07 billion, a price-to-earnings ratio of 13.56 and a beta of 2.12. Encana Corporation has a 12 month low of $8.01 and a 12 month high of $13.85. The company’s 50-day moving average is $10.93 and its 200 day moving average is $10.21.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Encana Corporation by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 22,637,700 shares of the oil and gas company’s stock valued at $265,086,000 after acquiring an additional 994,074 shares during the period. Capital Fund Management S.A. grew its stake in Encana Corporation by 103.1% in the 2nd quarter. Capital Fund Management S.A. now owns 563,668 shares of the oil and gas company’s stock valued at $4,960,000 after acquiring an additional 286,089 shares during the period. Parkwood LLC grew its stake in Encana Corporation by 15.4% in the 2nd quarter. Parkwood LLC now owns 376,727 shares of the oil and gas company’s stock valued at $3,315,000 after acquiring an additional 50,376 shares during the period. BlackRock Inc. grew its stake in Encana Corporation by 15.4% in the 2nd quarter. BlackRock Inc. now owns 25,264,984 shares of the oil and gas company’s stock valued at $222,330,000 after acquiring an additional 3,368,871 shares during the period. Finally, Advisor Group Inc. grew its stake in Encana Corporation by 28.9% in the 2nd quarter. Advisor Group Inc. now owns 43,067 shares of the oil and gas company’s stock valued at $380,000 after acquiring an additional 9,663 shares during the period. 66.76% of the stock is currently owned by hedge funds and other institutional investors.
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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