Equities analysts expect Encana Corp (NYSE:ECA) (TSE:ECA) to post $1.14 billion in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Encana’s earnings, with the lowest sales estimate coming in at $949.00 million and the highest estimate coming in at $1.28 billion. Encana reported sales of $1.30 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 12.3%. The company is scheduled to report its next quarterly earnings report on Tuesday, May 1st.
According to Zacks, analysts expect that Encana will report full-year sales of $1.14 billion for the current year, with estimates ranging from $4.19 billion to $5.34 billion. For the next financial year, analysts forecast that the company will report sales of $5.46 billion per share, with estimates ranging from $4.95 billion to $6.21 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Encana.
Encana (NYSE:ECA) (TSE:ECA) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Encana had a net margin of 18.58% and a return on equity of 6.25%.
ECA has been the subject of a number of analyst reports. Canaccord Genuity restated a “buy” rating and set a $16.00 price target on shares of Encana in a research note on Tuesday, January 9th. Royal Bank of Canada raised their price target on shares of Encana from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. Barclays raised their price target on shares of Encana from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, November 20th. Zacks Investment Research cut shares of Encana from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. Finally, GMP Securities restated a “buy” rating and set a $15.50 price target on shares of Encana in a research note on Friday, February 23rd. Three investment analysts have rated the stock with a sell rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $15.37.
In related news, Director Howard John Mayson purchased 2,500 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was acquired at an average price of $10.53 per share, with a total value of $26,325.00. Following the completion of the acquisition, the director now directly owns 25,104 shares in the company, valued at approximately $264,345.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Margaret Anne Mckenzie purchased 10,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was bought at an average cost of $11.16 per share, with a total value of $111,600.00. Following the acquisition, the director now owns 22,000 shares of the company’s stock, valued at $245,520. The disclosure for this purchase can be found here. In the last three months, insiders purchased 23,500 shares of company stock valued at $256,395. 0.08% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the stock. IFP Advisors Inc increased its holdings in shares of Encana by 12.5% in the fourth quarter. IFP Advisors Inc now owns 42,555 shares of the oil and gas company’s stock valued at $567,000 after purchasing an additional 4,730 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Encana by 5.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 112,742 shares of the oil and gas company’s stock valued at $1,328,000 after purchasing an additional 5,456 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Encana by 18.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 38,235 shares of the oil and gas company’s stock valued at $510,000 after purchasing an additional 5,901 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Encana by 2.2% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 296,467 shares of the oil and gas company’s stock valued at $3,952,000 after acquiring an additional 6,475 shares during the last quarter. Finally, Cetera Advisor Networks LLC boosted its stake in Encana by 28.9% in the third quarter. Cetera Advisor Networks LLC now owns 32,957 shares of the oil and gas company’s stock valued at $391,000 after acquiring an additional 7,397 shares during the last quarter. 68.51% of the stock is owned by institutional investors and hedge funds.
Shares of Encana (ECA) traded up $0.11 on Friday, reaching $11.05. 6,511,412 shares of the company’s stock were exchanged, compared to its average volume of 8,944,104. The company has a market capitalization of $10,860.00, a PE ratio of 9.36, a price-to-earnings-growth ratio of 1.47 and a beta of 2.13. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.62. Encana has a 1 year low of $8.01 and a 1 year high of $14.31.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Wednesday, March 14th. Encana’s dividend payout ratio is currently 5.04%.
Encana announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 15th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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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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