Cormark Brokers Boost Earnings Estimates for Encana Corp (NYSE:ECA)

Encana Corp (NYSE:ECA) (TSE:ECA) – Equities researchers at Cormark raised their Q2 2019 EPS estimates for shares of Encana in a research note issued on Wednesday, May 1st, Zacks Investment Research reports. Cormark analyst A. Arif now forecasts that the oil and gas company will post earnings per share of $0.26 for the quarter, up from their prior estimate of $0.23. Cormark also issued estimates for Encana’s Q1 2020 earnings at $0.36 EPS, Q2 2020 earnings at $0.30 EPS, Q3 2020 earnings at $0.31 EPS and Q4 2020 earnings at $0.32 EPS.

Encana (NYSE:ECA) (TSE:ECA) last issued its earnings results on Tuesday, April 30th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.05. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. Encana had a return on equity of 10.79% and a net margin of 11.48%. During the same quarter in the prior year, the firm earned $0.16 earnings per share.

Several other brokerages have also issued reports on ECA. Goldman Sachs Group lowered Encana to a “buy” rating in a research note on Friday, April 12th. Macquarie raised Encana from a “neutral” rating to an “outperform” rating and set a $7.28 target price for the company in a research note on Monday, March 4th. TheStreet raised Encana from a “d+” rating to a “c+” rating in a research note on Thursday, March 14th. Citigroup reaffirmed a “buy” rating and issued a $13.00 target price on shares of Encana in a research note on Monday, March 18th. Finally, Societe Generale set a $8.00 price objective on Encana and gave the company a “buy” rating in a research report on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. Encana has a consensus rating of “Buy” and an average target price of $11.79.

ECA traded down $0.09 during midday trading on Thursday, hitting $5.91. The stock had a trading volume of 28,500,968 shares, compared to its average volume of 22,546,526. The firm has a market cap of $8.51 billion, a P/E ratio of 6.87, a P/E/G ratio of 0.88 and a beta of 2.05. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. Encana has a 1 year low of $5.00 and a 1 year high of $14.28.

Institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. bought a new position in Encana in the first quarter worth $25,000. Shine Investment Advisory Services Inc. bought a new position in Encana in the first quarter worth $26,000. Lee Financial Co bought a new position in Encana in the first quarter worth $26,000. American Research & Management Co. bought a new position in Encana in the first quarter worth $27,000. Finally, Beutel Goodman & Co Ltd. bought a new position in Encana in the first quarter worth $31,000. Institutional investors own 58.43% of the company’s stock.

In other Encana news, CEO Douglas James Suttles bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average price of $6.01 per share, for a total transaction of $60,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 163,512 shares in the company, valued at $982,707.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael Gerard Mcallister bought 5,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $6.97 per share, with a total value of $36,244.00. Following the acquisition, the chief operating officer now owns 36,377 shares of the company’s stock, valued at $253,547.69. The disclosure for this purchase can be found here. Insiders acquired 41,650 shares of company stock valued at $264,482 in the last quarter. Corporate insiders own 0.11% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.0188 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.08 annualized dividend and a yield of 1.27%. Encana’s payout ratio is currently 9.30%.

Encana Company Profile

Encana Corporation, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It holds interests in various assets, including the Montney in northeast British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations comprising Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke located in offshore Nova Scotia in Canada.

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Earnings History and Estimates for Encana (NYSE:ECA)

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