Zacks: Analysts Expect Cameco Corporation (CCJ) Will Post Earnings of $0.09 Per Share
Analysts forecast that Cameco Corporation (NYSE:CCJ) (TSE:CCO) will announce $0.09 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Cameco Corporation’s earnings. Cameco Corporation posted earnings per share of $0.23 in the same quarter last year, which would indicate a negative year-over-year growth rate of 60.9%. The firm is expected to announce its next earnings results before the market opens on Friday, October 27th.
According to Zacks, analysts expect that Cameco Corporation will report full year earnings of $0.25 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the business will report earnings of $0.30 per share. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Cameco Corporation.
Cameco Corporation (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. The business had revenue of $470.00 million during the quarter, compared to the consensus estimate of $383.81 million. Cameco Corporation had a positive return on equity of 2.59% and a negative net margin of 0.75%. The company’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.14) earnings per share.
Several brokerages have recently commented on CCJ. BidaskClub lowered Cameco Corporation from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. TheStreet upgraded Cameco Corporation from a “d+” rating to a “c” rating in a research report on Tuesday, August 1st. Raymond James Financial, Inc. restated an “outperform” rating on shares of Cameco Corporation in a research report on Tuesday, August 15th. Bank of America Corporation lowered Cameco Corporation from a “neutral” rating to an “underperform” rating in a research report on Friday, June 30th. Finally, Zacks Investment Research upgraded Cameco Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $13.07.
Institutional investors and hedge funds have recently bought and sold shares of the company. Brookstone Capital Management raised its stake in shares of Cameco Corporation by 9.8% in the 2nd quarter. Brookstone Capital Management now owns 11,522 shares of the basic materials company’s stock worth $105,000 after buying an additional 1,033 shares in the last quarter. Usca Ria LLC raised its stake in shares of Cameco Corporation by 4.6% in the 2nd quarter. Usca Ria LLC now owns 11,668 shares of the basic materials company’s stock worth $106,000 after buying an additional 510 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Cameco Corporation in the 1st quarter worth $116,000. HRT Financial LLC bought a new stake in shares of Cameco Corporation in the 2nd quarter worth $129,000. Finally, Creative Planning raised its position in shares of Cameco Corporation by 55.3% during the second quarter. Creative Planning now owns 15,541 shares of the basic materials company’s stock worth $141,000 after purchasing an additional 5,531 shares during the period. 56.53% of the stock is currently owned by institutional investors.
Cameco Corporation (NYSE CCJ) traded down 0.40% during midday trading on Tuesday, hitting $10.04. The stock had a trading volume of 918,678 shares. The company’s market cap is $3.97 billion. The company has a 50-day moving average price of $9.97 and a 200-day moving average price of $10.09. Cameco Corporation has a 12-month low of $7.41 and a 12-month high of $13.36.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a $0.0799 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from Cameco Corporation’s previous quarterly dividend of $0.07. Cameco Corporation’s payout ratio is currently -999.67%.
About Cameco Corporation
Cameco Corporation (Cameco) is a uranium producer. The Company is primarily engaged in the exploration for and the development, mining, refining, conversion, fabrication and trading of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. The Company operates through three segments: uranium, fuel services and NUKEM.
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