FY2020 EPS Estimates for Imperial Oil Ltd (IMO) Decreased by Analyst

Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) – Analysts at National Bank Financial reduced their FY2020 earnings per share estimates for Imperial Oil in a research report issued to clients and investors on Thursday, May 2nd. National Bank Financial analyst T. Wood now forecasts that the energy company will post earnings of $1.54 per share for the year, down from their prior estimate of $1.63.

Several other research analysts have also recently weighed in on IMO. TD Securities reiterated a “hold” rating and set a $37.00 price target on shares of Imperial Oil in a research note on Monday, January 7th. Canaccord Genuity cut shares of Imperial Oil from a “buy” rating to a “hold” rating in a research note on Thursday, January 10th. AltaCorp Capital cut shares of Imperial Oil from a “sector perform” rating to an “underperform” rating in a research note on Monday, January 7th. Zacks Investment Research cut shares of Imperial Oil from a “hold” rating to a “sell” rating in a research note on Wednesday, January 16th. Finally, Credit Suisse Group started coverage on shares of Imperial Oil in a research note on Monday, January 28th. They set an “underperform” rating and a $27.89 target price on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $38.56.

Shares of Imperial Oil stock opened at $28.66 on Monday. Imperial Oil has a 1-year low of $24.29 and a 1-year high of $34.56.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its quarterly earnings results on Friday, April 26th. The energy company reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.09). The firm had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.21 billion. Imperial Oil’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 EPS.

A number of hedge funds have recently made changes to their positions in the business. FMR LLC lifted its stake in Imperial Oil by 23.2% in the 4th quarter. FMR LLC now owns 10,872,652 shares of the energy company’s stock worth $275,479,000 after purchasing an additional 2,046,952 shares in the last quarter. Vanguard Group Inc. lifted its stake in Imperial Oil by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 7,134,019 shares of the energy company’s stock worth $230,928,000 after purchasing an additional 66,468 shares in the last quarter. Vanguard Group Inc lifted its stake in Imperial Oil by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 7,134,019 shares of the energy company’s stock worth $230,928,000 after purchasing an additional 66,468 shares in the last quarter. Bank of Montreal Can lifted its stake in Imperial Oil by 2.6% in the 1st quarter. Bank of Montreal Can now owns 5,755,609 shares of the energy company’s stock worth $157,531,000 after purchasing an additional 148,256 shares in the last quarter. Finally, Norges Bank purchased a new stake in Imperial Oil in the 4th quarter worth $96,167,000.

Imperial Oil Company Profile

Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2017, this segment had 450 million oil-equivalent barrels of proved undeveloped reserves.

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