Imperial Oil Ltd Forecasted to Earn FY2019 Earnings of $2.25 Per Share (IMO)
Imperial Oil Ltd (TSE:IMO) (NYSEMKT:IMO) – Investment analysts at National Bank Financial increased their FY2019 earnings estimates for shares of Imperial Oil in a note issued to investors on Wednesday, November 7th. National Bank Financial analyst T. Wood now expects that the company will post earnings per share of $2.25 for the year, up from their previous forecast of $2.14. National Bank Financial currently has a “Sector Perform” rating and a $46.00 target price on the stock.
Several other research firms have also recently weighed in on IMO. BMO Capital Markets upped their price target on shares of Imperial Oil from C$42.00 to C$44.00 in a report on Monday, July 30th. Canaccord Genuity raised shares of Imperial Oil from a “hold” rating to a “buy” rating and upped their price target for the stock from C$50.00 to C$52.00 in a report on Tuesday, October 16th. Goldman Sachs Group raised shares of Imperial Oil from a “sell” rating to a “buy” rating in a report on Friday, October 19th. CIBC reaffirmed an “underperform” rating and issued a C$39.00 price target on shares of Imperial Oil in a report on Friday, October 5th. Finally, Raymond James upped their target price on shares of Imperial Oil from C$45.00 to C$50.00 in a research report on Friday, October 5th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of C$46.73.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Monday, December 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.76 annualized dividend and a yield of 1.86%. Imperial Oil’s dividend payout ratio (DPR) is presently 61.73%.
In related news, insider Jonathan Wetmore sold 614 shares of the company’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of C$42.55, for a total value of C$26,125.70.
Imperial Oil Company Profile
Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2017, this segment had 450 million oil-equivalent barrels of proved undeveloped reserves.
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