Wall Street analysts expect Encana Corporation (NYSE:ECA) (TSE:ECA) to report earnings per share (EPS) of $0.07 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Encana Corporation’s earnings. The lowest EPS estimate is $0.04 and the highest is $0.09. Encana Corporation reported earnings of $0.04 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 75%. The firm is expected to report its next earnings results on Thursday, November 2nd.
On average, analysts expect that Encana Corporation will report full year earnings of $0.46 per share for the current financial year, with EPS estimates ranging from $0.35 to $0.53. For the next fiscal year, analysts forecast that the company will post earnings of $0.64 per share, with EPS estimates ranging from $0.32 to $0.90. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Encana Corporation.
Encana Corporation (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.15. Encana Corporation had a return on equity of 6.25% and a net margin of 19.09%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $773.19 million. During the same period last year, the business earned $0.10 earnings per share.
Several analysts have commented on the company. UBS AG raised Encana Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, July 5th. BidaskClub downgraded Encana Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Canaccord Genuity set a $14.00 target price on Encana Corporation and gave the stock a “buy” rating in a research note on Tuesday, June 20th. AltaCorp Capital raised Encana Corporation from a “sector perform” rating to an “outperform” rating in a research note on Monday, July 24th. Finally, KLR Group reissued a “buy” rating and set a $18.00 target price (up from $16.00) on shares of Encana Corporation in a research note on Monday, July 24th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $13.23.
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Large investors have recently made changes to their positions in the business. Steadfast Capital Management LP grew its holdings in Encana Corporation by 12.2% during the 1st quarter. Steadfast Capital Management LP now owns 19,974,573 shares of the oil and gas company’s stock valued at $233,902,000 after buying an additional 2,164,300 shares during the last quarter. Sei Investments Co. grew its holdings in Encana Corporation by 84.8% during the 1st quarter. Sei Investments Co. now owns 321,320 shares of the oil and gas company’s stock valued at $3,763,000 after buying an additional 147,409 shares during the last quarter. World Asset Management Inc grew its holdings in Encana Corporation by 4.0% during the 1st quarter. World Asset Management Inc now owns 58,661 shares of the oil and gas company’s stock valued at $687,000 after buying an additional 2,250 shares during the last quarter. BlueCrest Capital Management Ltd grew its holdings in Encana Corporation by 600.0% during the 1st quarter. BlueCrest Capital Management Ltd now owns 1,100,373 shares of the oil and gas company’s stock valued at $12,885,000 after buying an additional 943,183 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Encana Corporation by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 22,637,700 shares of the oil and gas company’s stock valued at $265,086,000 after buying an additional 994,074 shares during the last quarter. Hedge funds and other institutional investors own 66.76% of the company’s stock.
Shares of Encana Corporation (NYSE ECA) traded up 1.58% during mid-day trading on Tuesday, reaching $9.63. The company’s stock had a trading volume of 11,682,074 shares. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of 11.48 and a beta of 2.06. The company’s 50 day moving average price is $9.53 and its 200-day moving average price is $10.15. Encana Corporation has a 1-year low of $8.01 and a 1-year high of $13.85.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Thursday, September 14th. Encana Corporation’s dividend payout ratio (DPR) is presently 6.98%.
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.
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