$771.73 Million in Sales Expected for Encana Corporation (NYSE:ECA) This Quarter
Equities analysts expect Encana Corporation (NYSE:ECA) (TSE:ECA) to announce sales of $771.73 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Encana Corporation’s earnings, with the lowest sales estimate coming in at $732.00 million and the highest estimate coming in at $824.00 million. Encana Corporation reported sales of $364.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 112%. The business is expected to report its next earnings report before the market opens on Friday, July 21st.
According to Zacks, analysts expect that Encana Corporation will report full-year sales of $771.73 million for the current fiscal year, with estimates ranging from $3.25 billion to $3.91 billion. For the next fiscal year, analysts expect that the company will post sales of $4.13 billion per share, with estimates ranging from $3.72 billion to $4.77 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Encana Corporation.
Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates 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 quarter in the previous year, the company posted ($0.15) EPS.
A number of brokerages have recently issued reports on ECA. UBS AG raised Encana Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the company from $12.00 to $14.00 in a research note on Thursday, March 23rd. BidaskClub raised Encana Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada cut Encana Corporation to a “hold” rating in a research note on Wednesday, July 5th. Canaccord Genuity set a $12.00 price objective on Encana Corporation and gave the company a “buy” rating in a research note on Tuesday, July 11th. Finally, TD Securities raised Encana Corporation from a “hold” rating to a “buy” rating and set a $11.50 price objective on the stock in a research note on Friday, June 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $13.51.
Shares of Encana Corporation (NYSE:ECA) traded up 4.84% during midday trading on Wednesday, reaching $9.96. The company had a trading volume of 11,015,718 shares. Encana Corporation has a one year low of $7.45 and a one year high of $13.85. The company’s market capitalization is $9.69 billion. The company has a 50 day moving average of $9.03 and a 200 day moving average of $10.99.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were issued a dividend of $0.015 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.06 annualized dividend and a dividend yield of 0.63%. Encana Corporation’s payout ratio is -31.58%.
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Institutional investors have recently made changes to their positions in the company. Allianz Asset Management AG purchased a new position in shares of Encana Corporation during the fourth quarter worth $370,000. Guggenheim Capital LLC raised its position in shares of Encana Corporation by 40.6% in the fourth quarter. Guggenheim Capital LLC now owns 79,518 shares of the oil and gas company’s stock worth $934,000 after buying an additional 22,960 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Encana Corporation by 13.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,748,791 shares of the oil and gas company’s stock worth $32,304,000 after buying an additional 322,370 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of Encana Corporation during the fourth quarter worth $881,000. Finally, Rathbone Brothers plc raised its position in shares of Encana Corporation by 5.3% in the first quarter. Rathbone Brothers plc now owns 28,372 shares of the oil and gas company’s stock worth $331,000 after buying an additional 1,436 shares during the last quarter. Institutional investors own 72.62% of the company’s stock.
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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