Wall Street brokerages predict that Encana Corp (NYSE:ECA) (TSE:ECA) will announce earnings of $0.14 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Encana’s earnings. The lowest EPS estimate is $0.11 and the highest is $0.18. Encana posted earnings per share of $0.02 during the same quarter last year, which indicates a positive year-over-year growth rate of 600%. The business is scheduled to announce its next earnings report on Wednesday, November 14th.
On average, analysts expect that Encana will report full-year earnings of $0.70 per share for the current fiscal year, with EPS estimates ranging from $0.57 to $0.82. For the next fiscal year, analysts forecast that the business will post earnings of $1.13 per share, with EPS estimates ranging from $0.83 to $1.46. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Encana.
Encana (NYSE:ECA) (TSE:ECA) last released its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.09. Encana had a net margin of 1.49% and a return on equity of 7.30%. The firm had revenue of $983.00 million for the quarter, compared to analysts’ expectations of $1.14 billion.
A number of equities analysts have issued reports on ECA shares. Zacks Investment Research cut shares of Encana from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. National Bank Financial decreased their price objective on shares of Encana from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, August 2nd. Canaccord Genuity reiterated a “buy” rating and set a $19.00 price target on shares of Encana in a research report on Thursday, July 12th. ValuEngine upgraded shares of Encana from a “sell” rating to a “hold” rating in a research report on Thursday, April 19th. Finally, Tudor Pickering cut shares of Encana from a “buy” rating to a “hold” rating in a research report on Thursday, May 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $15.98.
Shares of Encana traded up $0.06, reaching $13.52, during mid-day trading on Friday, MarketBeat Ratings reports. The stock had a trading volume of 5,885,628 shares, compared to its average volume of 8,155,578. Encana has a 52-week low of $8.79 and a 52-week high of $14.31. The stock has a market capitalization of $12.87 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 1.91 and a beta of 2.00. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.57.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend is Thursday, September 13th. This is a boost from Encana’s previous quarterly dividend of $0.02. Encana’s dividend payout ratio is 13.95%.
A number of institutional investors and hedge funds have recently made changes to their positions in ECA. Envestnet Asset Management Inc. grew its holdings in Encana by 18.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 38,235 shares of the oil and gas company’s stock worth $510,000 after purchasing an additional 5,901 shares during the period. Global X Management Co. LLC purchased a new stake in Encana in the first quarter worth about $742,000. Dreman Value Management L L C purchased a new stake in Encana in the first quarter worth about $201,000. Wells Fargo & Company MN grew its holdings in Encana by 12.3% in the first quarter. Wells Fargo & Company MN now owns 630,317 shares of the oil and gas company’s stock worth $6,933,000 after purchasing an additional 69,006 shares during the period. Finally, Contrarius Investment Management Ltd grew its holdings in Encana by 4.6% in the first quarter. Contrarius Investment Management Ltd now owns 811,856 shares of the oil and gas company’s stock worth $8,930,000 after purchasing an additional 35,761 shares during the period. Institutional investors and hedge funds own 67.66% of the company’s stock.
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. The company holds interests in various assets, including the Montney in northern 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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