Brokerages Anticipate Cenovus Energy Inc (CVE) to Announce $0.07 EPS

Analysts expect that Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) will post earnings per share (EPS) of $0.07 for the current quarter, according to Zacks. Two analysts have provided estimates for Cenovus Energy’s earnings, with the highest EPS estimate coming in at $0.10 and the lowest estimate coming in at $0.05. Cenovus Energy reported earnings of $0.29 per share during the same quarter last year, which suggests a negative year over year growth rate of 75.9%. The business is expected to report its next quarterly earnings report on Thursday, February 15th.

According to Zacks, analysts expect that Cenovus Energy will report full-year earnings of $0.58 per share for the current financial year, with EPS estimates ranging from $0.52 to $0.68. For the next financial year, analysts expect that the company will post earnings of $0.27 per share, with EPS estimates ranging from $0.07 to $0.61. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Cenovus Energy.

CVE has been the subject of a number of recent analyst reports. Canaccord Genuity reaffirmed a “buy” rating and set a $14.00 price target on shares of Cenovus Energy in a research report on Tuesday, September 5th. Scotiabank lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, November 15th. AltaCorp Capital lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Thursday, November 9th. Zacks Investment Research lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $15.00 price target on shares of Cenovus Energy in a research report on Monday, October 16th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. Cenovus Energy has a consensus rating of “Hold” and a consensus price target of $16.06.

Cenovus Energy (NYSE CVE) traded up $0.20 on Thursday, reaching $9.48. The company’s stock had a trading volume of 2,223,513 shares, compared to its average volume of 4,196,428. The company has a market cap of $11,882.40, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 2.79 and a beta of 0.61. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.41 and a quick ratio of 1.10. Cenovus Energy has a fifty-two week low of $6.76 and a fifty-two week high of $16.82.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.039 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.65%. Cenovus Energy’s dividend payout ratio (DPR) is 8.08%.

Several institutional investors have recently bought and sold shares of CVE. Acadian Asset Management LLC grew its stake in shares of Cenovus Energy by 759.4% in the 2nd quarter. Acadian Asset Management LLC now owns 118,600 shares of the oil and gas company’s stock worth $873,000 after buying an additional 104,800 shares during the last quarter. Cigna Investments Inc. New purchased a new stake in shares of Cenovus Energy in the 2nd quarter worth approximately $110,000. Trexquant Investment LP purchased a new stake in shares of Cenovus Energy in the 2nd quarter worth approximately $915,000. Canada Pension Plan Investment Board lifted its position in Cenovus Energy by 83.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,444,419 shares of the oil and gas company’s stock valued at $10,633,000 after acquiring an additional 657,764 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Cenovus Energy by 3.5% in the 2nd quarter. Legal & General Group Plc now owns 4,646,674 shares of the oil and gas company’s stock valued at $32,827,000 after acquiring an additional 159,075 shares in the last quarter. Institutional investors own 56.84% of the company’s stock.

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