Analysts Anticipate Encana Corporation (ECA) Will Post Quarterly Sales of $846.15 Million
Equities research analysts expect Encana Corporation (NYSE:ECA) (TSE:ECA) to announce $846.15 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Encana Corporation’s earnings, with estimates ranging from $742.00 million to $904.46 million. Encana Corporation reported sales of $979.00 million during the same quarter last year, which would suggest a negative year over year growth rate of 13.6%. The company is expected to issue its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Encana Corporation will report full-year sales of $846.15 million for the current financial year, with estimates ranging from $3.99 billion to $4.31 billion. For the next year, analysts expect that the company will post sales of $4.24 billion per share, with estimates ranging from $3.66 billion to $4.76 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Encana Corporation.
Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.15. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $773.19 million. Encana Corporation had a return on equity of 6.25% and a net margin of 19.09%. During the same period in the previous year, the firm posted $0.10 EPS.
Several brokerages recently commented on ECA. Jefferies Group LLC restated a “buy” rating and issued a $12.00 price target (down previously from $13.00) on shares of Encana Corporation in a research report on Tuesday, August 29th. BidaskClub downgraded shares of Encana Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Canaccord Genuity set a $12.00 price target on shares of Encana Corporation and gave the company a “buy” rating in a research report on Thursday, August 17th. Zacks Investment Research upgraded shares of Encana Corporation from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Thursday, July 27th. Finally, Desjardins restated a “hold” rating and issued a $13.50 price target on shares of Encana Corporation in a research report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $13.23.
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Institutional investors have recently added to or reduced their stakes in the company. Steadfast Capital Management LP raised its holdings in shares of Encana Corporation by 12.2% during the 1st quarter. Steadfast Capital Management LP now owns 19,974,573 shares of the oil and gas company’s stock valued at $233,902,000 after purchasing an additional 2,164,300 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Encana Corporation by 84.8% during the 1st quarter. Sei Investments Co. now owns 321,320 shares of the oil and gas company’s stock valued at $3,763,000 after purchasing an additional 147,409 shares in the last quarter. World Asset Management Inc raised its holdings in shares of Encana Corporation by 4.0% during the 1st quarter. World Asset Management Inc now owns 58,661 shares of the oil and gas company’s stock valued at $687,000 after purchasing an additional 2,250 shares in the last quarter. BlueCrest Capital Management Ltd raised its holdings in shares of Encana Corporation by 600.0% during the 1st quarter. BlueCrest Capital Management Ltd now owns 1,100,373 shares of the oil and gas company’s stock valued at $12,885,000 after purchasing an additional 943,183 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Encana Corporation by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 22,637,700 shares of the oil and gas company’s stock valued at $265,086,000 after purchasing an additional 994,074 shares in the last quarter. Institutional investors and hedge funds own 66.76% of the company’s stock.
Encana Corporation (NYSE ECA) opened at 10.19 on Thursday. The firm has a 50-day moving average price of $9.52 and a 200 day moving average price of $10.13. The firm has a market capitalization of $9.92 billion, a P/E ratio of 12.15 and a beta of 2.06. Encana Corporation has a one year low of $8.01 and a one year high of $13.85.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.015 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.59%. Encana Corporation’s dividend payout ratio is currently 6.98%.
Encana Corporation Company Profile
Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. 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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