Cormark Trims Encana (TSE:ECA) Target Price to C$13.00

Encana (TSE:ECA) (NYSE:ECA) had its target price lowered by Cormark from C$15.00 to C$13.00 in a research report sent to investors on Tuesday, BayStreet.CA reports. Cormark also issued estimates for Encana’s Q2 2019 earnings at $0.30 EPS, Q3 2019 earnings at $0.26 EPS, Q4 2019 earnings at $0.31 EPS, FY2019 earnings at $1.06 EPS, Q1 2020 earnings at $0.34 EPS, Q2 2020 earnings at $0.28 EPS, Q3 2020 earnings at $0.28 EPS, Q4 2020 earnings at $0.29 EPS and FY2020 earnings at $1.17 EPS.

Several other equities research analysts have also weighed in on the company. National Bank Financial dropped their target price on Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating on the stock in a research report on Tuesday, June 25th. BMO Capital Markets reaffirmed a hold rating and issued a $9.50 target price on shares of Vicon Industries in a research report on Friday, June 14th. Finally, AltaCorp Capital reaffirmed an outperform rating on shares of Encana in a research report on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of C$10.50.

Shares of TSE ECA opened at C$6.65 on Tuesday. Encana has a 1-year low of C$6.12 and a 1-year high of C$18.54. The company has a debt-to-equity ratio of 77.96, a current ratio of 0.74 and a quick ratio of 0.67. The stock has a fifty day moving average of C$6.82. The firm has a market capitalization of $9.20 billion and a price-to-earnings ratio of 10.22.

Encana (TSE:ECA) (NYSE:ECA) last issued its earnings results on Tuesday, April 30th. The company reported C$0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.13 by C$0.05. The company had revenue of C$1.62 billion during the quarter, compared to analyst estimates of C$1.59 billion. On average, equities research analysts predict that Encana will post 1.03 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.025 dividend. This is a boost from Encana’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.10 annualized dividend and a dividend yield of 1.50%. Encana’s dividend payout ratio is presently 15.36%.

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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Analyst Recommendations for Encana (TSE:ECA)

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