Analysts Issue Forecasts for Encana Corp.’s Q4 2016 Earnings (ECA)
Encana Corp. (NYSE:ECA) (TSE:ECA) – Equities research analysts at Jefferies Group lifted their Q4 2016 earnings per share estimates for Encana Corp. in a research note issued to investors on Thursday. Jefferies Group analyst J. Wolff now forecasts that the firm will post earnings of $0.05 per share for the quarter, up from their previous estimate of $0.04. Jefferies Group currently has a “Buy” rating and a $14.00 target price on the stock. Jefferies Group also issued estimates for Encana Corp.’s Q1 2017 earnings at $0.04 EPS, Q2 2017 earnings at $0.06 EPS, Q3 2017 earnings at $0.11 EPS, Q4 2017 earnings at $0.18 EPS and FY2017 earnings at $0.39 EPS.
Encana Corp. (NYSE:ECA) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. Encana Corp. had a negative net margin of 40.77% and a positive return on equity of 1.79%. During the same quarter in the prior year, the business posted ($0.03) earnings per share.
A number of other equities analysts also recently weighed in on the stock. Vetr downgraded shares of Encana Corp. from a “strong-buy” rating to a “buy” rating and set a $12.02 target price on the stock. in a report on Tuesday. Zacks Investment Research downgraded shares of Encana Corp. from a “buy” rating to a “hold” rating in a report on Monday, November 7th. KLR Group upgraded shares of Encana Corp. from a “hold” rating to a “buy” rating and upped their price objective for the company from $12.00 to $14.00 in a report on Monday, November 7th. BMO Capital Markets reiterated a “buy” rating and issued a $14.00 price objective on shares of Encana Corp. in a report on Friday, November 4th. Finally, RBC Capital Markets upgraded shares of Encana Corp. from a “sector perform” rating to an “outperform” rating and set a $13.00 price objective on the stock in a report on Friday, November 4th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $12.74.
Encana Corp. (NYSE:ECA) traded up 3.27% during trading on Friday, hitting $11.68. 7,166,625 shares of the stock were exchanged. The stock’s market capitalization is $11.36 billion. The firm has a 50-day moving average of $10.60 and a 200-day moving average of $8.95. Encana Corp. has a 52 week low of $3.00 and a 52 week high of $11.74.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Tuesday, December 13th. Encana Corp.’s dividend payout ratio is currently -3.97%.
Several institutional investors have recently modified their holdings of ECA. AXA boosted its position in shares of Encana Corp. by 14.3% in the first quarter. AXA now owns 32,273 shares of the company’s stock worth $198,000 after buying an additional 4,040 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Encana Corp. during the first quarter worth about $14,564,000. Legal & General Group Plc boosted its position in shares of Encana Corp. by 20.8% in the first quarter. Legal & General Group Plc now owns 4,785,739 shares of the company’s stock worth $29,288,000 after buying an additional 825,553 shares in the last quarter. A.R.T. Advisors LLC boosted its position in shares of Encana Corp. by 124.6% in the first quarter. A.R.T. Advisors LLC now owns 266,922 shares of the company’s stock worth $1,625,000 after buying an additional 148,100 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Encana Corp. by 1,161.1% in the second quarter. BNP Paribas Arbitrage SA now owns 145,988 shares of the company’s stock worth $1,137,000 after buying an additional 134,412 shares in the last quarter. Institutional investors own 56.30% of the company’s stock.
About Encana Corp.
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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