Equities analysts expect Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) to announce $0.58 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Canadian Natural Resource’s earnings, with the lowest EPS estimate coming in at $0.47 and the highest estimate coming in at $0.64. Canadian Natural Resource posted earnings per share of $0.19 in the same quarter last year, which would suggest a positive year over year growth rate of 205.3%. The business is scheduled to announce its next earnings results on Thursday, May 3rd.
On average, analysts expect that Canadian Natural Resource will report full-year earnings of $2.07 per share for the current financial year, with EPS estimates ranging from $1.48 to $2.57. For the next year, analysts anticipate that the company will report earnings of $2.24 per share, with EPS estimates ranging from $1.17 to $2.90. Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Canadian Natural Resource.
Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, March 1st. The oil and gas producer reported $368.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $368.22. Canadian Natural Resource had a net margin of 14.29% and a return on equity of 4.21%. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.56 billion.
Several analysts have recently weighed in on CNQ shares. AltaCorp Capital reaffirmed a “buy” rating and set a $52.00 price target on shares of Canadian Natural Resource in a research note on Monday, January 15th. Zacks Investment Research raised shares of Canadian Natural Resource from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research note on Tuesday, January 9th. Morgan Stanley lifted their price target on shares of Canadian Natural Resource from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Wells Fargo downgraded shares of Canadian Natural Resource from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 6th. Finally, UBS started coverage on shares of Canadian Natural Resource in a research note on Wednesday, March 7th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $44.67.
Shares of Canadian Natural Resource (CNQ) opened at $30.36 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.64 and a current ratio of 0.78. Canadian Natural Resource has a 12 month low of $27.52 and a 12 month high of $37.63. The firm has a market cap of $36,639.31, a P/E ratio of 0.10, a PEG ratio of 2.84 and a beta of 1.38.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 16th will be issued a dividend of $0.261 per share. This represents a $1.04 annualized dividend and a yield of 3.44%. This is a positive change from Canadian Natural Resource’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 15th. Canadian Natural Resource’s dividend payout ratio (DPR) is presently 0.33%.
Canadian Natural Resource declared that its Board of Directors has initiated a stock buyback plan on Wednesday, March 14th that allows the company to buyback 61,300,000 outstanding shares. This buyback authorization allows the oil and gas producer to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Hedge funds have recently modified their holdings of the stock. Icon Wealth Partners LLC purchased a new position in Canadian Natural Resource during the fourth quarter valued at approximately $127,000. Premia Global Advisors LLC purchased a new position in Canadian Natural Resource during the fourth quarter valued at approximately $145,000. Calton & Associates Inc. purchased a new position in Canadian Natural Resource during the fourth quarter valued at approximately $178,000. Eqis Capital Management Inc. purchased a new position in Canadian Natural Resource during the fourth quarter valued at approximately $205,000. Finally, Royal Bank of Scotland Group PLC purchased a new position in Canadian Natural Resource during the fourth quarter valued at approximately $210,000. 60.68% of the stock is currently owned by institutional investors.
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About Canadian Natural Resource
Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.
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