Cameco FY2024 EPS Forecast Raised by National Bank Financial

Cameco Co. (NYSE:CCJ) (TSE:CCO) – Equities research analysts at National Bank Financial upped their FY2024 earnings estimates for shares of Cameco in a note issued to investors on Wednesday, November 13th. National Bank Financial analyst M. Sidibe now expects that the basic materials company will earn $0.50 per share for the year, up from their previous forecast of $0.48. National Bank Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for Cameco’s current full-year earnings is $0.70 per share. National Bank Financial also issued estimates for Cameco’s FY2025 earnings at $1.18 EPS.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The business had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. During the same period in the prior year, the firm posted $0.24 EPS. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis.

CCJ has been the topic of a number of other reports. Scotiabank dropped their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Glj Research restated a “buy” rating and issued a $63.73 target price on shares of Cameco in a research note on Wednesday, August 14th. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $66.56.

Cameco Price Performance

CCJ opened at $55.89 on Monday. Cameco has a fifty-two week low of $35.43 and a fifty-two week high of $58.72. The firm has a 50-day moving average of $49.73 and a 200 day moving average of $48.36. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The firm has a market cap of $24.32 billion, a P/E ratio of 292.49 and a beta of 0.89.

Cameco Increases Dividend

The business also recently declared an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a dividend of $0.118 per share. This represents a yield of 0.22%. This is a positive change from Cameco’s previous annual dividend of $0.09. The ex-dividend date of this dividend is Wednesday, November 27th. Cameco’s dividend payout ratio (DPR) is presently 47.37%.

Institutional Trading of Cameco

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Moody Lynn & Lieberson LLC purchased a new position in shares of Cameco in the third quarter worth $1,680,000. Tidal Investments LLC increased its position in shares of Cameco by 15.5% in the first quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock valued at $868,000 after acquiring an additional 2,683 shares during the period. Country Club Bank bought a new position in shares of Cameco during the third quarter valued at about $2,093,000. Van ECK Associates Corp boosted its holdings in shares of Cameco by 48.1% during the third quarter. Van ECK Associates Corp now owns 1,584,822 shares of the basic materials company’s stock worth $75,691,000 after purchasing an additional 515,046 shares during the period. Finally, LRI Investments LLC bought a new stake in shares of Cameco in the first quarter worth about $30,000. Institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.