Equities analysts predict that Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) will announce earnings of ($0.16) per share for the current quarter, Zacks reports. Two analysts have issued estimates for Cenovus Energy’s earnings. The highest EPS estimate is $0.11 and the lowest is ($0.39). Cenovus Energy posted earnings of ($0.35) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 54.3%. The firm is expected to report its next quarterly earnings results before the market opens on Wednesday, February 13th.
According to Zacks, analysts expect that Cenovus Energy will report full-year earnings of ($0.88) per share for the current financial year, with EPS estimates ranging from ($1.05) to ($0.68). For the next year, analysts anticipate that the business will post earnings of $0.44 per share, with EPS estimates ranging from ($0.04) to $1.10. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Cenovus Energy.
A number of analysts recently weighed in on CVE shares. Raymond James lowered shares of Cenovus Energy to a “hold” rating in a report on Tuesday, December 11th. Canaccord Genuity set a $13.00 target price on shares of Cenovus Energy and gave the stock a “hold” rating in a report on Tuesday, November 20th. Credit Suisse Group initiated coverage on shares of Cenovus Energy in a report on Monday, January 28th. They set an “outperform” rating and a $15.00 target price on the stock. ValuEngine raised shares of Cenovus Energy from a “sell” rating to a “hold” rating in a report on Tuesday, February 5th. Finally, Scotiabank raised shares of Cenovus Energy from a “sector perform” rating to a “buy” rating in a report on Tuesday, October 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.54.
Several institutional investors have recently made changes to their positions in the company. FIL Ltd boosted its stake in shares of Cenovus Energy by 2.3% in the 3rd quarter. FIL Ltd now owns 49,490,561 shares of the oil and gas company’s stock valued at $496,954,000 after purchasing an additional 1,113,738 shares in the last quarter. Letko Brosseau & Associates Inc. boosted its stake in shares of Cenovus Energy by 3.6% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 41,302,859 shares of the oil and gas company’s stock valued at $290,311,000 after purchasing an additional 1,440,030 shares in the last quarter. Capital International Investors purchased a new stake in shares of Cenovus Energy in the 3rd quarter valued at $291,904,000. Vanguard Group Inc boosted its stake in shares of Cenovus Energy by 2.6% in the 3rd quarter. Vanguard Group Inc now owns 28,111,158 shares of the oil and gas company’s stock valued at $281,955,000 after purchasing an additional 711,769 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Cenovus Energy by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 28,111,158 shares of the oil and gas company’s stock valued at $281,955,000 after purchasing an additional 711,769 shares in the last quarter. 74.94% of the stock is owned by institutional investors.
Shares of CVE stock traded up $0.08 during trading on Wednesday, reaching $7.57. 349,256 shares of the company’s stock traded hands, compared to its average volume of 3,974,710. The company has a current ratio of 1.26, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $8.90 billion, a P/E ratio of -378.75, a PEG ratio of 2.84 and a beta of 0.72. Cenovus Energy has a 1 year low of $6.15 and a 1 year high of $11.47.
Cenovus Energy Company Profile
Cenovus Energy, Inc engages in gas and oil provisions. Its activities include development, production, and marketing of crude oil, natural gas liquids, and natural gas in Canada. It operates through four segments: Oil Sands, Deep Basin, Refining & Marketing, and Corporate & Eliminations. The Oil sands segment includes the development and production of bitumen and natural gas in northeast Alberta including Foster Creek, Christina Lake and Narrows Lake as well as projects in the early stages of development, such as Grand Rapids and Telephone Lake.
Further Reading: How Do Front-End Loads Impact an Investment?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cenovus Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy and related companies with MarketBeat.com's FREE daily email newsletter.