Equities analysts forecast that Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) will post sales of $3.82 billion for the current quarter, according to Zacks. Two analysts have provided estimates for Cenovus Energy’s earnings, with the lowest sales estimate coming in at $3.76 billion and the highest estimate coming in at $3.87 billion. Cenovus Energy reported sales of $2.92 billion in the same quarter last year, which would suggest a positive year over year growth rate of 30.8%. The company is expected to issue its next quarterly earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Cenovus Energy will report full year sales of $3.82 billion for the current fiscal year, with estimates ranging from $14.73 billion to $16.23 billion. For the next year, analysts forecast that the firm will report sales of $15.63 billion per share, with estimates ranging from $14.72 billion to $17.07 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Cenovus Energy.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Thursday, February 15th. The oil and gas company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.45). Cenovus Energy had a return on equity of 0.53% and a net margin of 18.92%. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter last year, the company posted $0.39 EPS.
Several research analysts have commented on the stock. UBS Group assumed coverage on shares of Cenovus Energy in a research report on Wednesday. They issued a “neutral” rating for the company. Zacks Investment Research cut shares of Cenovus Energy from a “hold” rating to a “sell” rating in a research report on Monday. ValuEngine cut shares of Cenovus Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Scotiabank cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Wednesday, November 15th. Finally, AltaCorp Capital upgraded shares of Cenovus Energy from a “sector perform” rating to an “outperform” rating in a report on Friday, February 16th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Cenovus Energy has a consensus rating of “Hold” and a consensus target price of $14.42.
Hedge funds have recently added to or reduced their stakes in the stock. Sowell Financial Services LLC acquired a new stake in Cenovus Energy during the third quarter valued at approximately $106,000. Timber Hill LLC acquired a new stake in Cenovus Energy during the third quarter valued at approximately $114,000. First Allied Advisory Services Inc. acquired a new stake in Cenovus Energy during the third quarter valued at approximately $125,000. Cutler Capital Management LLC acquired a new stake in Cenovus Energy during the third quarter valued at approximately $125,000. Finally, Point View Wealth Management Inc. acquired a new stake in Cenovus Energy during the third quarter valued at approximately $133,000. 75.28% of the stock is owned by institutional investors and hedge funds.
Cenovus Energy (NYSE CVE) traded down $0.27 during midday trading on Friday, reaching $7.90. 4,436,632 shares of the company’s stock traded hands, compared to its average volume of 4,539,205. Cenovus Energy has a 1 year low of $6.76 and a 1 year high of $13.32. The company has a current ratio of 1.13, a quick ratio of 0.82 and a debt-to-equity ratio of 0.48. The company has a market cap of $9,620.00, a PE ratio of 4.85, a price-to-earnings-growth ratio of 6.87 and a beta of 0.86.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a $0.0398 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a dividend yield of 2.01%. Cenovus Energy’s dividend payout ratio (DPR) is 9.82%.
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Cenovus Energy Company Profile
Cenovus Energy Inc is a Canada-based integrated oil company. It operates in the business of developing, producing and marketing crude oil, Natural Gas Liquids (NGLs) and natural gas in Canada. The Company also conducts marketing activities and owns refining interests in the United States (U.S.). Its segments include: Oil Sands, which includes the development and production of bitumen and natural gas in northeast Alberta; Conventional, which includes the development and production of conventional crude oil, NGLs and natural gas in Alberta and Saskatchewan, including the heavy oil assets at Pelican Lake, the carbon dioxide (CO2) enhanced oil recovery (EOR) project at Weyburn and emerging tight oil opportunities; Refining and Marketing, which includes transporting and selling crude oil and natural gas and joint ownership of refineries in the U.S., as well as Corporate and Eliminations.
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