Brokerages expect Cenovus Energy (NYSE:CVE) (TSE:CVE) to announce ($0.06) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Cenovus Energy’s earnings. The lowest EPS estimate is ($0.19) and the highest is $0.05. Cenovus Energy reported earnings per share of ($0.04) in the same quarter last year, which suggests a negative year-over-year growth rate of 50%. The business is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, April 25th.
On average, analysts expect that Cenovus Energy will report full-year earnings of $0.12 per share for the current fiscal year, with EPS estimates ranging from ($0.19) to $0.42. For the next year, analysts anticipate that the company will report earnings of $0.58 per share, with EPS estimates ranging from $0.20 to $1.13. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Cenovus Energy.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.45). The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.95 billion. Cenovus Energy had a return on equity of 0.53% and a net margin of 18.92%. During the same period in the previous year, the firm earned $0.39 earnings per share.
A number of research analysts have recently commented on the company. Bank of America assumed coverage on Cenovus Energy in a research note on Thursday. They set a “neutral” rating and a $9.00 target price on the stock. Tudor Pickering raised Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, March 28th. Zacks Investment Research cut Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Monday, March 12th. UBS assumed coverage on Cenovus Energy in a research note on Wednesday, March 7th. They set a “neutral” rating on the stock. Finally, ValuEngine cut Cenovus Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $13.64.
CVE opened at $9.36 on Thursday. The company has a market cap of $11,501.47, a PE ratio of 156.00, a price-to-earnings-growth ratio of 12.85 and a beta of 0.71. Cenovus Energy has a one year low of $6.76 and a one year high of $11.52. The company has a current ratio of 1.13, a quick ratio of 0.82 and a debt-to-equity ratio of 0.48.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were issued a $0.0398 dividend. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. The ex-dividend date was Wednesday, March 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.70%. Cenovus Energy’s payout ratio is presently -800.00%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. ConocoPhillips purchased a new stake in shares of Cenovus Energy in the fourth quarter valued at approximately $1,899,040,000. Letko Brosseau & Associates Inc. boosted its holdings in shares of Cenovus Energy by 1.5% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 35,336,991 shares of the oil and gas company’s stock valued at $323,771,000 after purchasing an additional 535,652 shares during the period. Burgundy Asset Management Ltd. boosted its holdings in shares of Cenovus Energy by 27.6% in the third quarter. Burgundy Asset Management Ltd. now owns 32,270,841 shares of the oil and gas company’s stock valued at $323,483,000 after purchasing an additional 6,981,739 shares during the period. Hexavest Inc. boosted its holdings in shares of Cenovus Energy by 78.1% in the fourth quarter. Hexavest Inc. now owns 10,052,201 shares of the oil and gas company’s stock valued at $92,102,000 after purchasing an additional 4,406,617 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Cenovus Energy by 73.9% in the fourth quarter. Mackenzie Financial Corp now owns 8,018,311 shares of the oil and gas company’s stock valued at $73,207,000 after purchasing an additional 3,406,432 shares during the period. Hedge funds and other institutional investors own 74.40% of the company’s stock.
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About Cenovus Energy
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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