Wall Street analysts expect that Encana Corp (NYSE:ECA) (TSE:ECA) will report $1.90 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Encana’s earnings. The lowest sales estimate is $1.90 billion and the highest is $1.91 billion. Encana posted sales of $2.38 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 20.2%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 27th.
According to Zacks, analysts expect that Encana will report full year sales of $6.66 billion for the current year, with estimates ranging from $5.84 billion to $7.07 billion. For the next fiscal year, analysts expect that the company will report sales of $6.77 billion, with estimates ranging from $6.05 billion to $7.54 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Encana.
Encana (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Encana had a return on equity of 10.12% and a net margin of 16.84%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.70 billion.
Several research analysts recently weighed in on the company. Citigroup decreased their target price on Encana from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Raymond James set a $5.00 target price on Encana and gave the company a “market perform” rating in a research note on Friday, November 1st. ValuEngine raised Encana from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. CIBC cut Encana from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $5.00 to $4.00 in a research note on Thursday, October 31st. Finally, Wolfe Research cut Encana from a “peer perform” rating to an “underperform” rating and set a $5.00 target price for the company. in a research note on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $7.40.
In other Encana news, SVP Sheila Marie Dipalma sold 79,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $53.48, for a total transaction of $4,251,660.00. Also, CFO Corey Douglas Code acquired 10,000 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were acquired at an average price of $3.95 per share, with a total value of $39,500.00. Following the completion of the transaction, the chief financial officer now directly owns 62,463 shares in the company, valued at approximately $246,728.85. The disclosure for this purchase can be found here. Insiders purchased a total of 47,300 shares of company stock valued at $193,080 in the last quarter. 0.11% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Letko Brosseau & Associates Inc. boosted its position in Encana by 44.2% during the 3rd quarter. Letko Brosseau & Associates Inc. now owns 52,459,355 shares of the oil and gas company’s stock worth $240,505,000 after acquiring an additional 16,082,247 shares during the period. Davis Selected Advisers boosted its position in Encana by 22.5% during the 2nd quarter. Davis Selected Advisers now owns 50,296,797 shares of the oil and gas company’s stock worth $258,023,000 after acquiring an additional 9,233,820 shares during the period. Vanguard Group Inc. raised its stake in shares of Encana by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 44,090,911 shares of the oil and gas company’s stock worth $226,187,000 after purchasing an additional 1,200,640 shares in the last quarter. Invesco Ltd. raised its stake in shares of Encana by 80.2% during the 2nd quarter. Invesco Ltd. now owns 29,383,179 shares of the oil and gas company’s stock worth $150,734,000 after purchasing an additional 13,076,923 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Encana by 14.1% during the 2nd quarter. CIBC Asset Management Inc now owns 22,103,299 shares of the oil and gas company’s stock worth $113,422,000 after purchasing an additional 2,724,750 shares in the last quarter. Hedge funds and other institutional investors own 74.13% of the company’s stock.
ECA stock traded up $0.03 during trading hours on Monday, hitting $4.23. 25,877,003 shares of the stock traded hands, compared to its average volume of 15,734,714. The stock has a 50-day simple moving average of $4.21 and a 200 day simple moving average of $4.54. Encana has a one year low of $3.77 and a one year high of $7.70. The company has a market cap of $5.24 billion, a P/E ratio of 4.92, a P/E/G ratio of 0.71 and a beta of 2.01. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71.
The business also recently declared a dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.019 dividend. The ex-dividend date of this dividend is Thursday, December 12th. Encana’s dividend payout ratio (DPR) is 9.30%.
Encana Company Profile
Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It holds interests in various assets, including the Montney in northeast British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations comprising Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke located in offshore Nova Scotia in Canada.
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