BMO Capital Markets Cuts Encana (TSE:ECA) Price Target to C$9.00

Encana (TSE:ECA) (NYSE:ECA) had its price target cut by research analysts at BMO Capital Markets from C$11.00 to C$9.00 in a research report issued on Friday, BayStreet.CA reports. BMO Capital Markets’ target price suggests a potential upside of 42.86% from the company’s previous close.

A number of other brokerages have also recently weighed in on ECA. National Bank Financial lifted their target price on Encana from C$10.50 to C$11.00 in a report on Monday, April 8th. AltaCorp Capital reissued an “outperform” rating on shares of Encana in a research report on Monday, April 8th. Jefferies Financial Group raised their price objective on Encana from C$10.00 to C$11.00 in a research report on Friday, March 1st. Finally, Macquarie raised Encana from a “neutral” rating to an “outperform” rating in a research report on Monday, March 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of C$11.92.

Encana stock traded down C$0.28 during midday trading on Friday, reaching C$6.30. The stock had a trading volume of 5,458,289 shares, compared to its average volume of 7,749,018. Encana has a twelve month low of C$6.22 and a twelve month high of C$18.54. The stock has a market capitalization of $8.93 billion and a P/E ratio of 9.65. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 77.96.

Encana (TSE:ECA) (NYSE:ECA) last issued its earnings results on Tuesday, April 30th. The company reported C$0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.13 by C$0.05. The firm had revenue of C$1.62 billion during the quarter, compared to analyst estimates of C$1.59 billion. As a group, sell-side analysts predict that Encana will post 1.0299999 EPS for the current year.

About Encana

Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It holds interests in various assets, including the Montney in northeast British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations comprising Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke located in offshore Nova Scotia in Canada.

See Also: What is intrinsic value?

Analyst Recommendations for Encana (TSE:ECA)

Receive News & Ratings for Encana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encana and related companies with's FREE daily email newsletter.

Leave a Reply