Cenovus Energy (CVE) Set to Announce Earnings on Wednesday

Cenovus Energy (NYSE:CVE) (TSE:CVE) will be announcing its earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.35 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. The business had revenue of $9.65 billion during the quarter, compared to analyst estimates of $9.73 billion. Cenovus Energy had a net margin of 7.88% and a return on equity of 14.85%. During the same quarter in the prior year, the firm earned $0.29 earnings per share. On average, analysts expect Cenovus Energy to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Cenovus Energy Stock Performance

NYSE:CVE traded down $0.48 during mid-day trading on Tuesday, hitting $21.06. The stock had a trading volume of 4,208,711 shares, compared to its average volume of 11,086,705. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25. The company has a 50 day simple moving average of $19.50 and a 200-day simple moving average of $18.04. The stock has a market capitalization of $39.28 billion, a price-to-earnings ratio of 13.35 and a beta of 2.15. Cenovus Energy has a 52 week low of $14.69 and a 52 week high of $21.90.

Cenovus Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.1033 per share. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Thursday, March 14th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.10. Cenovus Energy’s payout ratio is 25.95%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley raised their target price on Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. UBS Group upgraded shares of Cenovus Energy from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $28.00 target price on shares of Cenovus Energy in a research note on Friday, January 26th. Finally, StockNews.com upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cenovus Energy presently has an average rating of “Buy” and a consensus target price of $26.67.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.