Zacks: Brokerages Expect Canadian Natural Resources Ltd (CNQ) to Announce $0.03 EPS

Analysts expect Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) to post earnings per share (EPS) of $0.03 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Canadian Natural Resources’ earnings. The lowest EPS estimate is ($0.11) and the highest is $0.17. Canadian Natural Resources posted earnings of $0.37 per share during the same quarter last year, which suggests a negative year over year growth rate of 91.9%. The business is expected to issue its next earnings report on Thursday, March 7th.

On average, analysts expect that Canadian Natural Resources will report full year earnings of $2.49 per share for the current financial year, with EPS estimates ranging from $2.04 to $2.93. For the next fiscal year, analysts forecast that the firm will post earnings of $1.98 per share, with EPS estimates ranging from $0.09 to $3.94. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Canadian Natural Resources.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, November 1st. The oil and gas producer reported $1.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.45. The firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.71 billion. Canadian Natural Resources had a return on equity of 12.33% and a net margin of 15.94%. During the same quarter in the previous year, the firm posted $0.19 EPS.

CNQ has been the topic of several recent research reports. Zacks Investment Research cut Canadian Natural Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Royal Bank of Canada lowered Canadian Natural Resources from a “top pick” rating to an “outperform” rating and set a $38.40 price objective on the stock. in a report on Thursday, September 20th. They noted that the move was a valuation call. ValuEngine raised Canadian Natural Resources from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Macquarie lowered Canadian Natural Resources from an “outperform” rating to a “neutral” rating in a report on Tuesday, October 9th. Finally, Raymond James reaffirmed a “buy” rating on shares of Canadian Natural Resources in a report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $44.43.

Shares of CNQ stock opened at $27.16 on Friday. The stock has a market capitalization of $32.05 billion, a P/E ratio of 32.72, a P/E/G ratio of 3.87 and a beta of 1.17. Canadian Natural Resources has a 52-week low of $21.85 and a 52-week high of $38.20. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.69 and a current ratio of 0.92.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 1st. Shareholders of record on Monday, December 10th were issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend was Friday, December 7th. Canadian Natural Resources’s dividend payout ratio is presently 121.69%.

A number of institutional investors and hedge funds have recently made changes to their positions in CNQ. Cerebellum GP LLC purchased a new stake in shares of Canadian Natural Resources during the 4th quarter worth approximately $222,000. Vanguard Group Inc boosted its stake in shares of Canadian Natural Resources by 3.2% during the 3rd quarter. Vanguard Group Inc now owns 33,721,656 shares of the oil and gas producer’s stock worth $1,101,349,000 after acquiring an additional 1,031,712 shares in the last quarter. NorthCoast Asset Management LLC purchased a new stake in shares of Canadian Natural Resources during the 3rd quarter worth approximately $4,640,000. Nordea Investment Management AB purchased a new stake in shares of Canadian Natural Resources during the 3rd quarter worth approximately $2,198,000. Finally, Neuberger Berman Group LLC boosted its stake in shares of Canadian Natural Resources by 83.7% during the 3rd quarter. Neuberger Berman Group LLC now owns 454,646 shares of the oil and gas producer’s stock worth $14,856,000 after acquiring an additional 207,179 shares in the last quarter. 66.55% of the stock is currently owned by institutional investors.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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