Analysts Expect Encana Corporation (ECA) Will Announce Earnings of $0.13 Per Share
Equities analysts forecast that Encana Corporation (NYSE:ECA) (TSE:ECA) will announce earnings of $0.13 per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Encana Corporation’s earnings, with the lowest EPS estimate coming in at $0.08 and the highest estimate coming in at $0.19. Encana Corporation posted earnings of $0.09 per share during the same quarter last year, which indicates a positive year over year growth rate of 44.4%. The business is expected to announce its next quarterly earnings report on Thursday, February 15th.
According to Zacks, analysts expect that Encana Corporation will report full year earnings of $0.44 per share for the current financial year, with EPS estimates ranging from $0.39 to $0.51. For the next year, analysts anticipate that the company will post earnings of $0.72 per share, with EPS estimates ranging from $0.47 to $1.12. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Encana Corporation.
A number of equities research analysts have recently commented on ECA shares. Zacks Investment Research upgraded Encana Corporation from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Thursday, July 27th. KLR Group reiterated 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. TD Securities lifted their target price on Encana Corporation from $11.50 to $12.50 and gave the stock a “buy” rating in a research note on Monday, July 24th. Citigroup Inc. lowered their target price on Encana Corporation from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Finally, Jefferies Group LLC set a $14.00 target price on Encana Corporation and gave the stock a “buy” rating in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $14.39.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stevens Capital Management LP purchased a new stake in shares of Encana Corporation in the second quarter worth $102,000. Gotham Asset Management LLC purchased a new stake in shares of Encana Corporation in the second quarter worth $109,000. Atria Investments LLC purchased a new stake in shares of Encana Corporation in the second quarter worth $113,000. Equity Investment Corp Acquisition Inc lifted its holdings in shares of Encana Corporation by 5.4% during the second quarter. Equity Investment Corp Acquisition Inc now owns 12,996 shares of the oil and gas company’s stock valued at $114,000 after purchasing an additional 666 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Encana Corporation during the second quarter valued at $118,000. 67.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Encana Corporation (NYSE ECA) traded down $0.04 during trading hours on Wednesday, reaching $12.65. The company’s stock had a trading volume of 6,896,625 shares, compared to its average volume of 14,580,541. The company has a market cap of $12,348.82, a PE ratio of 31.73, a PEG ratio of 3.49 and a beta of 2.17. Encana Corporation has a fifty-two week low of $8.01 and a fifty-two week high of $13.85. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.62.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.015 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.06 annualized dividend and a yield of 0.47%. Encana Corporation’s payout ratio is 7.60%.
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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