Cameco (NYSE:CCJ) Posts Earnings Results, Misses Expectations By $0.40 EPS

Cameco (NYSE:CCJ) (TSE:CCO) announced its quarterly earnings results on Thursday. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.40), Briefing.com reports. The company had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. Cameco updated its FY 2024 guidance to EPS.

Cameco Stock Performance

Shares of NYSE CCJ opened at $52.54 on Friday. Cameco has a 1 year low of $35.43 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. The stock has a fifty day moving average price of $48.27 and a two-hundred day moving average price of $48.18. The firm has a market cap of $22.86 billion, a P/E ratio of 122.19 and a beta of 0.89.

Cameco Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be given a $0.118 dividend. This represents a yield of 0.22%. This is an increase from Cameco’s previous annual dividend of $0.09. The ex-dividend date is Wednesday, November 27th. Cameco’s dividend payout ratio is 20.93%.

Analyst Ratings Changes

A number of research firms have issued reports on CCJ. National Bank Financial upgraded Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Scotiabank decreased their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Glj Research reiterated a “buy” rating and set a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. Finally, Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $66.56.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.