Brokerages expect Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) to post $0.54 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Canadian Natural Resources’ earnings. The lowest EPS estimate is $0.41 and the highest is $0.63. Canadian Natural Resources reported earnings of ($0.16) per share in the same quarter last year, which would suggest a positive year over year growth rate of 437.5%. The business is scheduled to announce its next earnings results on Thursday, March 5th.
On average, analysts expect that Canadian Natural Resources will report full-year earnings of $2.35 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $3.12. For the next fiscal year, analysts expect that the company will report earnings of $1.63 per share, with EPS estimates ranging from $0.97 to $2.43. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Canadian Natural Resources.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, November 7th. The oil and gas producer reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.44. The company had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Canadian Natural Resources had a return on equity of 8.62% and a net margin of 22.22%. During the same period last year, the firm posted $1.11 EPS.
Several equities analysts recently issued reports on CNQ shares. TD Securities raised their price target on Canadian Natural Resources from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday. JPMorgan Chase & Co. raised their price target on Canadian Natural Resources from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday. ValuEngine upgraded Canadian Natural Resources from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Credit Suisse Group set a $48.00 price target on Canadian Natural Resources and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Raymond James restated an “outperform” rating and set a $40.00 price target on shares of Canadian Natural Resources in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $40.92.
Shares of NYSE CNQ traded down $0.14 during trading hours on Tuesday, reaching $27.94. 1,697,260 shares of the stock traded hands, compared to its average volume of 2,733,854. The company has a market capitalization of $31.35 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 1.74 and a beta of 1.16. The company has a quick ratio of 0.44, a current ratio of 0.59 and a debt-to-equity ratio of 0.57. Canadian Natural Resources has a 52-week low of $21.85 and a 52-week high of $31.77. The company’s 50-day simple moving average is $26.00 and its two-hundred day simple moving average is $26.19.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Canadian Natural Resources by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 35,109,595 shares of the oil and gas producer’s stock worth $946,906,000 after buying an additional 582,768 shares during the last quarter. TD Asset Management Inc. grew its position in shares of Canadian Natural Resources by 1.8% in the 2nd quarter. TD Asset Management Inc. now owns 27,403,837 shares of the oil and gas producer’s stock worth $740,486,000 after buying an additional 473,090 shares during the last quarter. Beutel Goodman & Co Ltd. grew its position in shares of Canadian Natural Resources by 4.0% in the 3rd quarter. Beutel Goodman & Co Ltd. now owns 24,559,567 shares of the oil and gas producer’s stock worth $37,261,000 after buying an additional 941,032 shares during the last quarter. Letko Brosseau & Associates Inc. grew its position in shares of Canadian Natural Resources by 0.7% in the 3rd quarter. Letko Brosseau & Associates Inc. now owns 15,015,956 shares of the oil and gas producer’s stock worth $399,783,000 after buying an additional 108,112 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Canadian Natural Resources by 1.6% in the 3rd quarter. CIBC Asset Management Inc now owns 13,908,932 shares of the oil and gas producer’s stock worth $370,121,000 after buying an additional 214,444 shares during the last quarter. Hedge funds and other institutional investors own 65.39% of the company’s stock.
About Canadian Natural Resources
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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