Q1 2017 Earnings Estimate for Encana Corp. Issued By Jefferies Group (ECA)
Encana Corp. (NYSE:ECA) – Investment analysts at Jefferies Group reduced their Q1 2017 earnings per share estimates for Encana Corp. in a report released on Wednesday. Jefferies Group analyst J. Wolff now expects that the brokerage will earn $0.01 per share for the quarter, down from their previous estimate of $0.03. 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 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.
ECA has been the subject of a number of other research reports. KLR Group initiated coverage on shares of Encana Corp. in a research note on Monday, August 29th. They set a “hold” rating and a $10.00 target price for the company. Nomura reissued a “buy” rating and set a $17.00 target price on shares of Encana Corp. in a research note on Monday, September 26th. CIBC raised shares of Encana Corp. to a “sector perform” rating and boosted their target price for the stock from $8.00 to $12.00 in a research note on Friday, September 30th. Royal Bank Of Canada cut their target price on shares of Encana Corp. from $10.00 to $9.00 and set a “sector perform” rating for the company in a research note on Monday, September 12th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $13.00 price objective (down previously from $15.00) on shares of Encana Corp. in a research note on Thursday, September 29th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $11.44.
Encana Corp. (NYSE:ECA) opened at 10.86 on Friday. The stock’s market capitalization is $9.23 billion. Encana Corp. has a 12 month low of $3.00 and a 12 month high of $11.23. The stock’s 50 day moving average is $9.92 and its 200-day moving average is $8.13.
Encana Corp. (NYSE:ECA) last issued its earnings results on Thursday, July 21st. The company reported $0.10 EPS for the quarter, topping the Zacks’ 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 quarter last year, the firm earned ($0.20) EPS.
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 dividend of $0.015 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.06 dividend on an annualized basis and a yield of 0.55%. Encana Corp.’s dividend payout ratio (DPR) is presently -1.79%.
Large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Encana Corp. during the fourth quarter worth $33,438,000. Virginia Retirement System purchased a new stake in shares of Encana Corp. during the first quarter worth $1,500,000. BlackRock Inc. raised its stake 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 during the last quarter. BlackRock Group LTD raised its stake 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 during the last quarter. Finally, Tobam purchased a new stake in shares of Encana Corp. during the first quarter worth $727,000. 64.68% of the stock is currently owned by institutional investors.
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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