Brokers Set Expectations for Canadian Natural Resources Limited’s FY2024 Earnings (TSE:CNQ)

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Analysts at Zacks Research decreased their FY2024 earnings per share (EPS) estimates for Canadian Natural Resources in a report issued on Thursday, September 19th. Zacks Research analyst T. Saha now expects that the company will post earnings of $3.34 per share for the year, down from their previous estimate of $3.36. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $3.56 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q4 2024 earnings at $0.93 EPS, Q2 2025 earnings at $1.14 EPS, Q3 2025 earnings at $0.87 EPS, Q4 2025 earnings at $0.81 EPS, FY2025 earnings at $3.93 EPS, Q1 2026 earnings at $0.96 EPS, Q2 2026 earnings at $0.66 EPS and FY2026 earnings at $3.35 EPS.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, beating the consensus estimate of C$0.84 by C$0.04. The firm had revenue of C$9.05 billion for the quarter, compared to analyst estimates of C$8.41 billion. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%.

Other research analysts also recently issued research reports about the company. TD Securities boosted their target price on Canadian Natural Resources from C$49.00 to C$60.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Raymond James lowered their target price on Canadian Natural Resources from C$97.00 to C$49.00 and set a “market perform” rating on the stock in a research note on Wednesday, June 12th. Wolfe Research upgraded Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 18th. Royal Bank of Canada lowered their target price on Canadian Natural Resources from C$62.00 to C$59.00 in a research note on Tuesday, September 17th. Finally, Desjardins boosted their target price on Canadian Natural Resources from C$55.00 to C$56.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$90.31.

Canadian Natural Resources Stock Up 1.9 %

TSE:CNQ opened at C$46.52 on Monday. The business’s fifty day moving average price is C$47.34 and its 200 day moving average price is C$74.14. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 29.64. Canadian Natural Resources has a 1-year low of C$40.02 and a 1-year high of C$56.49. The firm has a market capitalization of C$99.09 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 0.53 and a beta of 1.91.

Canadian Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be given a $0.525 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.10 annualized dividend and a dividend yield of 4.51%. Canadian Natural Resources’s dividend payout ratio is 59.26%.

About Canadian Natural Resources

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).