FY2016 Earnings Forecast for Encana Corp. (ECA) Issued By Jefferies Group
Encana Corp. (NYSE:ECA) – Research analysts at Jefferies Group increased their FY2016 earnings per share (EPS) estimates for shares of Encana Corp. in a research note issued to investors on Wednesday. Jefferies Group analyst J. Wolff now expects that the firm will post earnings per share of $0.00 for the year, up from their prior forecast of ($0.02). Jefferies Group has a “Buy” rating and a $14.00 price target on the stock. Jefferies Group also issued estimates for Encana Corp.’s Q4 2016 earnings at $0.04 EPS.
Several other equities analysts have also commented on the stock. BMO Capital Markets set a $14.00 price target on shares of Encana Corp. and gave the company a “buy” rating in a research note on Thursday. AltaCorp Capital upgraded shares of Encana Corp. from an “underperform” rating to a “sector perform” rating in a research note on Thursday. Societe Generale downgraded Encana Corp. from a “hold” rating to a “sell” rating in a report on Friday. Deutsche Bank AG increased their price objective 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 started coverage on Encana Corp. in a report on Thursday. They issued an “outperform” rating and a $14.00 price objective for the company. Three 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. The stock presently has a consensus rating of “Hold” and an average target price of $11.46.
Shares of Encana Corp. (NYSE:ECA) opened at 10.86 on Monday. The company has a 50-day moving average of $9.92 and a 200 day moving average of $8.13. The stock’s market cap is $9.23 billion. Encana Corp. has a one year low of $3.00 and a one year high of $11.23.
Encana Corp. (NYSE:ECA) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.19. Encana Corp. had a negative net margin of 81.73% and a positive return on equity of 0.79%. During the same period last year, the firm posted ($0.20) earnings per share.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Tuesday, September 13th. Encana Corp.’s dividend payout ratio (DPR) is currently -1.79%.
A number of large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Encana Corp. during the fourth quarter worth approximately $33,438,000. BlackRock Inc. boosted its position in shares of Encana Corp. by 7,416.7% in the first quarter. BlackRock Inc. now owns 473,551 shares of the company’s stock worth $2,884,000 after buying an additional 467,251 shares in the last quarter. BlackRock Group LTD boosted its position in shares of Encana Corp. by 7,634.4% in the first quarter. BlackRock Group LTD now owns 13,148,536 shares of the company’s stock worth $80,074,000 after buying an additional 12,978,536 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in shares of Encana Corp. during the first quarter worth $187,000. Finally, Bessemer Group Inc. boosted its position in shares of Encana Corp. by 50.1% in the first quarter. Bessemer Group Inc. now owns 60,528 shares of the company’s stock worth $368,000 after buying an additional 20,210 shares in the last quarter. 57.44% of the stock is owned by institutional investors.
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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