Wall Street brokerages predict that Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) will report sales of $3.80 billion for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Cenovus Energy’s earnings. The highest sales estimate is $3.81 billion and the lowest is $3.79 billion. Cenovus Energy posted sales of $2.73 billion during the same quarter last year, which would indicate a positive year over year growth rate of 39.2%. The company is scheduled to report its next earnings results on Thursday, February 15th.
According to Zacks, analysts expect that Cenovus Energy will report full-year sales of $3.80 billion for the current fiscal year, with estimates ranging from $13.37 billion to $14.08 billion. For the next financial year, analysts anticipate that the firm will post sales of $13.92 billion per share, with estimates ranging from $12.97 billion to $14.82 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Cenovus Energy.
A number of equities research analysts recently issued reports on CVE shares. Canaccord Genuity reissued a “buy” rating and issued a $14.00 target price on shares of Cenovus Energy in a research report on Tuesday, September 5th. Morgan Stanley set a $15.00 target price on Cenovus Energy and gave the company a “buy” rating in a research report on Friday, October 13th. Royal Bank of Canada reissued a “buy” rating and issued a $15.00 target price on shares of Cenovus Energy in a research report on Monday, October 16th. Zacks Investment Research raised Cenovus Energy from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Thursday, October 19th. Finally, AltaCorp Capital lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Thursday, November 9th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.42.
Cenovus Energy (CVE) traded up $0.14 during midday trading on Wednesday, hitting $8.92. The stock had a trading volume of 3,314,500 shares, compared to its average volume of 4,182,497. The firm has a market capitalization of $10,960.00, a price-to-earnings ratio of 3.96 and a beta of 0.62. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.10 and a current ratio of 1.41. Cenovus Energy has a 52 week low of $6.76 and a 52 week high of $15.54.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.039 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.16 dividend on an annualized basis and a yield of 1.75%. Cenovus Energy’s dividend payout ratio is 7.11%.
A number of hedge funds have recently bought and sold shares of the business. Sowell Financial Services LLC bought a new position in shares of Cenovus Energy during the 3rd quarter worth approximately $106,000. Timber Hill LLC bought a new stake in Cenovus Energy in the 3rd quarter valued at $114,000. First Allied Advisory Services Inc. bought a new stake in Cenovus Energy in the 3rd quarter valued at $125,000. Cutler Capital Management LLC bought a new stake in Cenovus Energy in the 3rd quarter valued at $125,000. Finally, Point View Wealth Management Inc. bought a new stake in Cenovus Energy in the 3rd quarter valued at $133,000. Hedge funds and other institutional investors own 56.78% of the company’s stock.
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