TSE:CNQ FY2024 EPS Forecast Lowered by Zacks Research

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for Canadian Natural Resources in a research report issued to clients and investors on Friday, October 18th. Zacks Research analyst T. Saha now forecasts that the company will post earnings of $3.25 per share for the year, down from their previous forecast of $3.34. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $3.83 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q4 2024 earnings at $0.80 EPS, Q3 2025 earnings at $0.71 EPS, Q1 2026 earnings at $0.86 EPS, Q3 2026 earnings at $0.67 EPS and FY2026 earnings at $3.01 EPS.

Several other brokerages also recently weighed in on CNQ. Jefferies Financial Group boosted their target price on Canadian Natural Resources from C$49.00 to C$57.00 in a research note on Friday, October 11th. Gerdes Energy Research upped their price objective on shares of Canadian Natural Resources from C$52.00 to C$53.00 in a report on Tuesday, October 8th. Royal Bank of Canada lifted their target price on shares of Canadian Natural Resources from C$59.00 to C$62.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. CIBC upped their price target on shares of Canadian Natural Resources from C$57.50 to C$59.00 in a research note on Wednesday, October 9th. Finally, TD Securities boosted their price objective on shares of Canadian Natural Resources from C$56.00 to C$58.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$74.13.

Canadian Natural Resources Price Performance

TSE CNQ opened at C$49.02 on Monday. The firm’s fifty day simple moving average is C$47.59 and its two-hundred day simple moving average is C$67.08. The firm has a market capitalization of C$104.41 billion, a P/E ratio of 13.97, a P/E/G ratio of 0.53 and a beta of 1.89. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 29.64. Canadian Natural Resources has a 12-month low of C$40.02 and a 12-month high of C$56.49.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.04. The firm had revenue of C$9.05 billion for the quarter, compared to the consensus estimate of C$8.41 billion. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%.

Canadian Natural Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s payout ratio is currently 60.97%.

Insider Activity

In other news, Senior Officer Devin Craig Lowe sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of C$49.04, for a total transaction of C$183,900.00. In other news, Senior Officer Devin Craig Lowe sold 3,750 shares of Canadian Natural Resources stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of C$49.04, for a total value of C$183,900.00. Also, Senior Officer Trevor Wagil sold 4,272 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of C$47.51, for a total transaction of C$202,966.99. Insiders own 4.26% of the company’s stock.

About Canadian Natural Resources

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells 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 (thermal oil), and synthetic crude oil (SCO).