Zacks: Brokerages Anticipate Canadian Natural Resource Ltd (CNQ) to Post $0.74 EPS
Brokerages expect Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) to post $0.74 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Canadian Natural Resource’s earnings, with the lowest EPS estimate coming in at $0.64 and the highest estimate coming in at $0.89. Canadian Natural Resource reported earnings per share of $0.15 in the same quarter last year, which would suggest a positive year-over-year growth rate of 393.3%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Canadian Natural Resource will report full year earnings of $2.84 per share for the current year, with EPS estimates ranging from $2.49 to $3.20. For the next year, analysts anticipate that the business will post earnings of $2.98 per share, with EPS estimates ranging from $2.19 to $4.09. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Canadian Natural Resource.
Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, August 2nd. The oil and gas producer reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.50. The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Canadian Natural Resource had a net margin of 12.34% and a return on equity of 8.35%. During the same period in the prior year, the company posted $0.29 EPS.
Shares of CNQ stock traded down $0.07 during trading on Monday, reaching $34.90. 1,431,529 shares of the company’s stock traded hands, compared to its average volume of 2,363,635. The stock has a market capitalization of $43.05 billion, a P/E ratio of 42.05, a PEG ratio of 2.38 and a beta of 1.24. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. Canadian Natural Resource has a 1 year low of $29.20 and a 1 year high of $38.20.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be paid a dividend of $0.257 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Thursday, September 13th. Canadian Natural Resource’s payout ratio is currently 124.10%.
Several hedge funds have recently made changes to their positions in CNQ. Signaturefd LLC bought a new stake in Canadian Natural Resource during the 1st quarter worth approximately $147,000. PenderFund Capital Management Ltd. bought a new stake in Canadian Natural Resource during the 1st quarter worth approximately $223,000. Ostrum Asset Management bought a new stake in Canadian Natural Resource during the 1st quarter worth approximately $168,000. Cubist Systematic Strategies LLC increased its holdings in Canadian Natural Resource by 50.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock worth $195,000 after acquiring an additional 1,800 shares during the period. Finally, Worth Venture Partners LLC bought a new stake in Canadian Natural Resource during the 1st quarter worth approximately $225,000. Institutional investors own 62.50% of the company’s stock.
About Canadian Natural Resource
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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