Q4 2017 EPS Estimates for Encana Corporation (ECA) Cut by Analyst
Encana Corporation (NYSE:ECA) (TSE:ECA) – Investment analysts at Cormark decreased their Q4 2017 earnings estimates for Encana Corporation in a research note issued to investors on Thursday. Cormark analyst A. Arif now expects that the oil and gas company will post earnings per share of $0.11 for the quarter, down from their prior estimate of $0.13. Cormark also issued estimates for Encana Corporation’s Q1 2018 earnings at $0.16 EPS, Q2 2018 earnings at $0.17 EPS, Q4 2018 earnings at $0.21 EPS, FY2019 earnings at $1.05 EPS, FY2020 earnings at $1.30 EPS and FY2021 earnings at $1.68 EPS.
ECA has been the topic of several other reports. Citigroup Inc. dropped their target price on Encana Corporation from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Scotiabank raised their target price on Encana Corporation from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research report on Thursday. GMP Securities reaffirmed a “buy” rating and set a $16.00 price objective on shares of Encana Corporation in a research report on Friday, September 29th. Raymond James Financial, Inc. lifted their price objective on Encana Corporation from $14.00 to $15.00 and gave the company a “strong-buy” rating in a research report on Monday, July 24th. Finally, TD Securities lifted their price objective on Encana Corporation from $11.50 to $12.50 and gave the company a “buy” rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $14.11.
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Shares of Encana Corporation (NYSE ECA) opened at 11.38 on Friday. Encana Corporation has a 52 week low of $8.01 and a 52 week high of $13.85. The company has a market capitalization of $11.07 billion, a PE ratio of 13.56 and a beta of 2.12. The company has a 50-day moving average price of $10.93 and a 200-day moving average price of $10.21.
Encana Corporation (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings data on Friday, July 21st. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $773.19 million. During the same period in the previous year, the business posted $0.10 EPS.
Large investors have recently added to or reduced their stakes in the business. Stevens Capital Management LP bought a new stake in Encana Corporation in the 2nd quarter worth approximately $102,000. Gotham Asset Management LLC bought a new stake in Encana Corporation in the 2nd quarter worth approximately $109,000. Atria Investments LLC bought a new stake in Encana Corporation in the 2nd quarter worth approximately $113,000. Equity Investment Corp Acquisition Inc increased its stake in Encana Corporation by 5.4% in the 2nd quarter. Equity Investment Corp Acquisition Inc now owns 12,996 shares of the oil and gas company’s stock worth $114,000 after acquiring an additional 666 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new stake in Encana Corporation in the 2nd quarter worth approximately $118,000. 66.76% of the stock is currently owned by institutional investors and hedge funds.
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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