Imperial Oil Ltd Expected to Post FY2018 Earnings of $1.69 Per Share (IMO)

Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) – Stock analysts at National Bank Financial upped their FY2018 earnings per share estimates for shares of Imperial Oil in a research report issued to clients and investors on Wednesday, November 7th. National Bank Financial analyst T. Wood now anticipates that the energy company will earn $1.69 per share for the year, up from their prior estimate of $1.49. National Bank Financial also issued estimates for Imperial Oil’s FY2019 earnings at $1.71 EPS.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its quarterly earnings data on Friday, November 2nd. The energy company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $9.73 billion during the quarter, compared to the consensus estimate of $10.67 billion. During the same period last year, the company earned $0.44 earnings per share. The business’s quarterly revenue was up 36.0% compared to the same quarter last year.

A number of other research firms also recently weighed in on IMO. TheStreet upgraded Imperial Oil from a “c” rating to a “b-” rating in a research report on Friday, October 5th. CIBC started coverage on Imperial Oil in a research report on Friday, October 5th. They issued a “sector underperform” rating for the company. Zacks Investment Research downgraded Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. BMO Capital Markets restated an “average” rating and issued a $48.00 target price on shares of Imperial Oil in a research report on Thursday. Finally, Tudor Pickering upgraded Imperial Oil from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Imperial Oil currently has a consensus rating of “Hold” and a consensus price target of $45.25.

IMO opened at $31.05 on Friday. Imperial Oil has a 1-year low of $25.91 and a 1-year high of $34.56.

Several large investors have recently made changes to their positions in the company. Toronto Dominion Bank lifted its position in shares of Imperial Oil by 78.8% during the 2nd quarter. Toronto Dominion Bank now owns 1,558,572 shares of the energy company’s stock valued at $52,534,000 after acquiring an additional 686,675 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Imperial Oil by 69.2% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,372,800 shares of the energy company’s stock valued at $45,605,000 after purchasing an additional 561,400 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Imperial Oil by 6.9% in the second quarter. Legal & General Group Plc now owns 1,171,883 shares of the energy company’s stock valued at $38,930,000 after purchasing an additional 75,395 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Imperial Oil by 26.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,019,745 shares of the energy company’s stock valued at $33,907,000 after purchasing an additional 215,434 shares in the last quarter. Finally, Fiera Capital Corp lifted its holdings in shares of Imperial Oil by 7.0% in the second quarter. Fiera Capital Corp now owns 939,531 shares of the energy company’s stock valued at $31,234,000 after purchasing an additional 61,760 shares in the last quarter.

Imperial Oil Company Profile

Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2017, this segment had 450 million oil-equivalent barrels of proved undeveloped reserves.

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