Analysts forecast that Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) will announce earnings of $0.65 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Canadian Natural Resources’ earnings, with estimates ranging from $0.57 to $0.69. Canadian Natural Resources reported earnings per share of $0.81 in the same quarter last year, which suggests a negative year-over-year growth rate of 19.8%. The business is scheduled to announce its next quarterly earnings results before the market opens on Thursday, August 1st.
On average, analysts expect that Canadian Natural Resources will report full year earnings of $2.35 per share for the current year, with EPS estimates ranging from $2.15 to $2.60. For the next fiscal year, analysts forecast that the company will report earnings of $2.09 per share, with EPS estimates ranging from $1.72 to $2.36. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Canadian Natural Resources.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, May 9th. The oil and gas producer reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.31. Canadian Natural Resources had a net margin of 13.50% and a return on equity of 8.98%. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same period last year, the firm posted $0.71 EPS.
Several research analysts have recently weighed in on the stock. Scotiabank reissued a “buy” rating on shares of Canadian Natural Resources in a research report on Tuesday, April 2nd. Zacks Investment Research cut shares of Hanger from a “hold” rating to a “sell” rating in a research note on Tuesday, May 28th. Edward Jones cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Canaccord Genuity reaffirmed a “buy” rating and set a $7.50 target price on shares of in a research report on Tuesday, July 9th. Finally, Evercore ISI lowered shares of Suncor Energy from an “outperform” rating to an “in-line” rating and dropped their target price for the stock from C$58.00 to C$54.00 in a research report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $41.43.
Shares of CNQ traded up $0.17 during mid-day trading on Friday, hitting $26.17. The company’s stock had a trading volume of 122,901 shares, compared to its average volume of 2,329,973. The company has a 50-day moving average of $26.99. The company has a market cap of $31.09 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 1.62 and a beta of 1.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.76 and a quick ratio of 0.57. Canadian Natural Resources has a fifty-two week low of $21.85 and a fifty-two week high of $36.80.
The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a $0.2794 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date was Thursday, June 13th. Canadian Natural Resources’s payout ratio is currently 51.63%.
Institutional investors have recently added to or reduced their stakes in the business. TD Asset Management Inc. grew its holdings in shares of Canadian Natural Resources by 5.4% during the first quarter. TD Asset Management Inc. now owns 26,930,747 shares of the oil and gas producer’s stock worth $739,615,000 after purchasing an additional 1,383,266 shares during the last quarter. Beutel Goodman & Co Ltd. grew its holdings in Canadian Natural Resources by 0.8% during the first quarter. Beutel Goodman & Co Ltd. now owns 23,242,450 shares of the oil and gas producer’s stock worth $638,126,000 after buying an additional 179,004 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in Canadian Natural Resources by 6.5% during the fourth quarter. 1832 Asset Management L.P. now owns 20,753,266 shares of the oil and gas producer’s stock worth $501,139,000 after buying an additional 1,268,244 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in Canadian Natural Resources by 23.8% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,000,000 shares of the oil and gas producer’s stock worth $494,345,000 after buying an additional 3,455,000 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. grew its stake in Canadian Natural Resources by 1.1% in the 1st quarter. Letko Brosseau & Associates Inc. now owns 14,841,147 shares of the oil and gas producer’s stock valued at $407,591,000 after purchasing an additional 154,717 shares during the period. Hedge funds and other institutional investors own 65.06% of the company’s stock.
About Canadian Natural Resources
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
Read More: What is a trade deficit?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Canadian Natural Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Natural Resources and related companies with MarketBeat.com's FREE daily email newsletter.