Cormark Analysts Cut Earnings Estimates for Encana Corporation (ECA)

Encana Corporation (NYSE:ECA) (TSE:ECA) – Investment analysts at Cormark reduced their FY2017 EPS estimates for shares of Encana Corporation in a note issued to investors on Monday. Cormark analyst A. Arif now anticipates that the oil and gas company will earn $0.37 per share for the year, down from their prior estimate of $0.38. Cormark also issued estimates for Encana Corporation’s FY2018 earnings at $0.64 EPS.

Encana Corporation (NYSE:ECA) (TSE:ECA) last released its quarterly earnings results on Tuesday, May 2nd. The oil and gas company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $789.49 million. Encana Corporation had a positive return on equity of 5.21% and a negative net margin of 3.87%. During the same period in the prior year, the business posted ($0.15) EPS.

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Earnings History and Estimates for Encana Corporation (NYSE:ECA)

A number of other brokerages also recently commented on ECA. GMP Securities reaffirmed a “hold” rating and issued a $13.25 price objective on shares of Encana Corporation in a research report on Friday, March 31st. BidaskClub raised Encana Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Desjardins reaffirmed a “hold” rating and issued a $13.75 price objective on shares of Encana Corporation in a research report on Thursday, March 30th. Raymond James Financial, Inc. initiated coverage on Encana Corporation in a research report on Wednesday, May 31st. They issued an “outperform” rating and a $15.00 price objective for the company. Finally, TheStreet raised Encana Corporation from a “d+” rating to a “c-” rating in a research report on Tuesday, May 30th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Encana Corporation has a consensus rating of “Buy” and an average target price of $13.75.

Encana Corporation (ECA) opened at 8.73 on Tuesday. The stock’s market capitalization is $8.49 billion. Encana Corporation has a 12-month low of $7.22 and a 12-month high of $13.85. The stock’s 50 day moving average price is $10.31 and its 200-day moving average price is $11.53.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be given a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Tuesday, June 13th. Encana Corporation’s payout ratio is -31.58%.

Several large investors have recently modified their holdings of ECA. Causeway Capital Management LLC increased its stake in shares of Encana Corporation by 95.2% in the first quarter. Causeway Capital Management LLC now owns 48,768,776 shares of the oil and gas company’s stock valued at $571,082,000 after buying an additional 23,779,815 shares during the last quarter. BlackRock Inc. increased its stake in shares of Encana Corporation by 11,232.3% in the first quarter. BlackRock Inc. now owns 21,896,113 shares of the oil and gas company’s stock valued at $256,403,000 after buying an additional 21,702,894 shares during the last quarter. FMR LLC increased its stake in shares of Encana Corporation by 739.9% in the fourth quarter. FMR LLC now owns 20,771,231 shares of the oil and gas company’s stock valued at $243,813,000 after buying an additional 18,298,176 shares during the last quarter. Norges Bank bought a new stake in shares of Encana Corporation during the fourth quarter valued at $113,848,000. Finally, Wellington Management Group LLP increased its stake in shares of Encana Corporation by 337.3% in the first quarter. Wellington Management Group LLP now owns 12,168,568 shares of the oil and gas company’s stock valued at $142,337,000 after buying an additional 9,385,795 shares during the last quarter. 68.19% of the stock is owned by institutional investors.

About Encana Corporation

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ECA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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