Zacks: Brokerages Expect Goldcorp (GG) Will Post Earnings of $0.10 Per Share

Brokerages expect Goldcorp (NYSE:GG) (TSE:G) to announce earnings of $0.10 per share for the current quarter, according to Zacks. Two analysts have provided estimates for Goldcorp’s earnings, with the lowest EPS estimate coming in at $0.09 and the highest estimate coming in at $0.12. Goldcorp reported earnings of $0.20 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 50%. The business is expected to report its next quarterly earnings results after the market closes on Wednesday, April 25th.

According to Zacks, analysts expect that Goldcorp will report full year earnings of $0.43 per share for the current year, with EPS estimates ranging from $0.29 to $0.60. For the next fiscal year, analysts expect that the business will post earnings of $0.67 per share, with EPS estimates ranging from $0.46 to $0.85. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Goldcorp.

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Goldcorp (NYSE:GG) (TSE:G) last posted its earnings results on Wednesday, February 14th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). Goldcorp had a return on equity of 3.08% and a net margin of 19.22%. The business had revenue of $853.00 million for the quarter, compared to the consensus estimate of $869.94 million.

GG has been the subject of a number of recent analyst reports. ValuEngine downgraded shares of Goldcorp from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Credit Suisse Group raised shares of Goldcorp from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $15.50 to $19.00 in a research report on Monday, January 15th. Scotiabank set a $18.00 price objective on shares of Goldcorp and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Jefferies Group set a $16.00 price objective on shares of Goldcorp and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Finally, Canaccord Genuity downgraded shares of Goldcorp from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $17.51.

GG stock traded up $0.03 during trading on Friday, reaching $14.05. The stock had a trading volume of 3,613,647 shares, compared to its average volume of 5,719,359. Goldcorp has a one year low of $11.64 and a one year high of $15.63. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.91. The company has a market capitalization of $12,181.59, a price-to-earnings ratio of 35.13, a PEG ratio of 3.23 and a beta of 0.06.

The business also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Thursday, March 15th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Wednesday, March 14th. Goldcorp’s payout ratio is 20.00%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC purchased a new position in Goldcorp in the third quarter valued at about $137,000. Cerebellum GP LLC purchased a new position in Goldcorp in the fourth quarter valued at about $133,000. Belpointe Asset Management LLC purchased a new position in Goldcorp in the fourth quarter valued at about $141,000. Lombard Odier Asset Management Europe Ltd purchased a new position in Goldcorp in the fourth quarter valued at about $179,000. Finally, Sciencast Management LP purchased a new position in Goldcorp in the fourth quarter valued at about $207,000. Hedge funds and other institutional investors own 52.29% of the company’s stock.

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Goldcorp Company Profile

Goldcorp Inc acquires, explores for, develops, and operates precious metal properties in Canada, the United States, Mexico, and Central and South America. It primarily explores for gold, silver, lead, zinc, and copper deposits. The company's principal producing mining properties include the Éléonore, Musselwhite, Porcupine, and Red Lake mines in Canada; the Peñasquito mine in Mexico; the Cerro Negro mine in Argentina; and the Pueblo Viejo mine in the Dominican Republic.

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Earnings History and Estimates for Goldcorp (NYSE:GG)

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