South Bow (NYSE:SOBO) Announces Quarterly Earnings Results

South Bow (NYSE:SOBO) announced its quarterly earnings results on Wednesday. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12, Zacks reports. The company had revenue of $488.00 million during the quarter, compared to the consensus estimate of $524.87 million.

South Bow Trading Down 7.5 %

Shares of South Bow stock opened at $25.31 on Thursday. The stock has a market capitalization of $5.27 billion and a price-to-earnings ratio of 13.52. South Bow has a twelve month low of $21.12 and a twelve month high of $27.60. The firm’s 50-day moving average price is $24.56.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. TD Securities assumed coverage on shares of South Bow in a research report on Wednesday, January 15th. They set a “hold” rating for the company. Tudor Pickering upgraded South Bow to a “strong-buy” rating in a report on Tuesday, November 19th. Scotiabank upped their price target on South Bow from $24.00 to $26.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Wells Fargo & Company lowered shares of South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. Finally, CIBC upgraded South Bow from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $23.00 to $25.00 in a research report on Thursday, January 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $25.50.

South Bow Company Profile

South Bow Corp is a strategic liquids pipeline company. It is a new liquids-focused midstream infrastructure company. South Bow Corp is based in Canada.