Jefferies Group Equities Analysts Lower Earnings Estimates for Encana Corp. (ECA)
Encana Corp. (NYSE:ECA) – Stock analysts at Jefferies Group reduced their Q1 2017 earnings per share estimates for shares of Encana Corp. in a report issued on Wednesday. Jefferies Group analyst J. Wolff now anticipates that the firm will post earnings per share of $0.01 for the quarter, down from their prior estimate of $0.03. Jefferies Group currently has a “Buy” rating and a $14.00 price target on the stock. Jefferies Group also issued estimates for Encana Corp.’s Q2 2017 earnings at $0.04 EPS, Q3 2017 earnings at $0.07 EPS, Q4 2017 earnings at $0.15 EPS and FY2017 earnings at $0.27 EPS.
Encana Corp. (NYSE:ECA) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.19. Encana Corp. had a positive return on equity of 0.79% and a negative net margin of 81.73%. During the same quarter last year, the company posted ($0.20) earnings per share.
A number of other equities analysts have also recently commented on the company. BMO Capital Markets set a $14.00 target price on Encana Corp. and gave the company a “buy” rating in a report on Thursday. AltaCorp Capital raised Encana Corp. from an “underperform” rating to a “sector perform” rating in a report on Thursday. Societe Generale cut Encana Corp. from a “hold” rating to a “sell” rating in a report on Friday. Deutsche Bank AG increased their target price on Encana Corp. from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday. Finally, Credit Suisse Group AG assumed coverage on Encana Corp. in a report on Thursday. They set an “outperform” rating and a $14.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. Encana Corp. has a consensus rating of “Hold” and a consensus target price of $11.44.
Shares of Encana Corp. (NYSE:ECA) opened at 10.86 on Friday. The company’s market capitalization is $9.23 billion. The company’s 50 day moving average price is $9.92 and its 200-day moving average price is $8.13. Encana Corp. has a 52 week low of $3.00 and a 52 week high of $11.23.
Hedge funds have recently made changes to their positions in the stock. BB&T Securities LLC boosted its stake in shares of Encana Corp. by 22.6% in the first quarter. BB&T Securities LLC now owns 17,754 shares of the company’s stock valued at $108,000 after buying an additional 3,270 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of Encana Corp. by 39.6% in the first quarter. Loomis Sayles & Co. L P now owns 21,274 shares of the company’s stock valued at $130,000 after buying an additional 6,036 shares during the last quarter. Carnick & Kubik Group LLC bought a new stake in shares of Encana Corp. during the second quarter valued at about $154,000. Stevens Capital Management LP bought a new stake in shares of Encana Corp. during the second quarter valued at about $165,000. Finally, Eqis Capital Management Inc. bought a new stake in shares of Encana Corp. during the third quarter valued at about $171,000. Institutional investors and hedge funds own 64.68% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Tuesday, September 13th. Encana Corp.’s payout ratio is currently -1.79%.
Encana Corp. Company Profile
Encana Corp is a Canada-based energy producer, which is engaged in the business of exploration, development, production and marketing of natural gas, oil and natural gas liquids (NGLs). The Company’s operations also include the marketing of natural gas, oil and NGLs. All of its reserves and production are located in North America.
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