Analysts expect Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) to report earnings per share of $0.14 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Cenovus Energy’s earnings, with the highest EPS estimate coming in at $0.18 and the lowest estimate coming in at $0.08. Cenovus Energy reported earnings of $0.18 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 22.2%. The firm is scheduled to issue its next earnings results on Thursday, November 1st.
On average, analysts expect that Cenovus Energy will report full-year earnings of ($0.27) per share for the current fiscal year, with EPS estimates ranging from ($0.42) to ($0.05). For the next fiscal year, analysts forecast that the company will post earnings of $0.87 per share, with EPS estimates ranging from $0.57 to $1.47. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Cenovus Energy.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, July 26th. The oil and gas company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.21). Cenovus Energy had a negative net margin of 2.56% and a negative return on equity of 6.66%. The firm had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same period in the prior year, the company posted $0.36 earnings per share.
A number of research firms have commented on CVE. Morgan Stanley upped their price objective on shares of Cenovus Energy from $13.00 to $17.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 23rd. BMO Capital Markets raised shares of Cenovus Energy from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $15.00 to $17.00 in a research note on Thursday, May 17th. National Bank Financial raised shares of Cenovus Energy from a “sector perform overweight” rating to an “outperform overweight” rating in a research note on Thursday, May 31st. ValuEngine raised shares of Cenovus Energy from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Finally, Macquarie raised shares of Cenovus Energy from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $14.08.
CVE stock traded up $0.03 during mid-day trading on Friday, reaching $9.93. 1,714,888 shares of the stock traded hands, compared to its average volume of 2,668,264. The company has a current ratio of 1.17, a quick ratio of 0.81 and a debt-to-equity ratio of 0.53. Cenovus Energy has a 52-week low of $7.09 and a 52-week high of $11.52. The firm has a market capitalization of $12.16 billion, a PE ratio of -496.50 and a beta of 0.66.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a $0.038 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, September 13th. Cenovus Energy’s dividend payout ratio (DPR) is -750.00%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. V Wealth Management LLC purchased a new stake in shares of Cenovus Energy in the second quarter worth approximately $132,000. Sciencast Management LP purchased a new stake in shares of Cenovus Energy in the first quarter worth approximately $133,000. Element Capital Management LLC purchased a new stake in shares of Cenovus Energy in the first quarter worth approximately $154,000. Dreman Value Management L L C purchased a new stake in shares of Cenovus Energy in the first quarter worth approximately $156,000. Finally, Addenda Capital Inc. purchased a new stake in shares of Cenovus Energy in the second quarter worth approximately $182,000. 73.89% of the stock is owned by institutional investors and hedge funds.
Cenovus Energy Company Profile
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.
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