Zacks Research Weighs in on Imperial Oil Limited’s Q2 2024 Earnings (TSE:IMO)

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) – Research analysts at Zacks Research decreased their Q2 2024 earnings per share (EPS) estimates for Imperial Oil in a research report issued on Monday, April 1st. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $1.61 for the quarter, down from their previous forecast of $1.64. The consensus estimate for Imperial Oil’s current full-year earnings is $8.22 per share. Zacks Research also issued estimates for Imperial Oil’s Q3 2024 earnings at $1.92 EPS, Q4 2024 earnings at $1.99 EPS, FY2024 earnings at $7.58 EPS, Q3 2025 earnings at $1.62 EPS and Q4 2025 earnings at $1.57 EPS.

Several other research firms have also recently weighed in on IMO. Royal Bank of Canada boosted their price target on Imperial Oil from C$82.00 to C$85.00 and gave the stock a “sector perform” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. dropped their price target on shares of Imperial Oil from C$97.00 to C$94.00 in a report on Monday, February 12th. CIBC boosted their price objective on shares of Imperial Oil from C$85.00 to C$90.00 and gave the company a “neutral” rating in a report on Friday, March 22nd. TD Securities cut shares of Imperial Oil from a “buy” rating to a “hold” rating and raised their target price for the stock from C$87.00 to C$88.00 in a report on Thursday, February 29th. Finally, Desjardins lifted their target price on shares of Imperial Oil from C$86.00 to C$88.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Imperial Oil has a consensus rating of “Hold” and a consensus price target of C$90.77.

Imperial Oil Stock Up 1.5 %

IMO stock opened at C$97.84 on Tuesday. The business has a 50 day moving average of C$84.73 and a 200 day moving average of C$80.48. The firm has a market cap of C$52.43 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 0.21 and a beta of 1.84. Imperial Oil has a twelve month low of C$60.19 and a twelve month high of C$98.03. The company has a quick ratio of 0.98, a current ratio of 1.26 and a debt-to-equity ratio of 19.49.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last released its earnings results on Friday, February 2nd. The company reported C$2.47 EPS for the quarter, beating analysts’ consensus estimates of C$2.08 by C$0.39. Imperial Oil had a return on equity of 21.91% and a net margin of 9.64%. The company had revenue of C$13.11 billion during the quarter, compared to analysts’ expectations of C$16.57 billion.

Imperial Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, April 1st were given a $0.60 dividend. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Friday, March 1st. Imperial Oil’s dividend payout ratio is 28.27%.

Imperial Oil Company Profile

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.