Brokerages Expect Canadian Natural Resources Ltd (NYSE:CNQ) Will Post Earnings of $0.65 Per Share

Brokerages expect that Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) will announce earnings of $0.65 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Canadian Natural Resources’ earnings. The highest EPS estimate is $0.69 and the lowest is $0.57. 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 firm is expected to announce its next quarterly earnings results before the market opens on Thursday, August 1st.

According to Zacks, 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 year, analysts anticipate that the firm will report earnings of $2.09 per share, with EPS estimates ranging from $1.72 to $2.36. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Canadian Natural Resources.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results 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. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Canadian Natural Resources had a return on equity of 8.98% and a net margin of 13.50%. During the same period in the previous year, the business earned $0.71 earnings per share.



Several equities analysts have recently weighed in on the company. Royal Bank of Canada reiterated a “sell” rating on shares of CI Financial in a research report on Friday, May 10th. Zacks Investment Research cut Hanger from a “hold” rating to a “sell” rating in a research report on Tuesday, May 28th. Evercore ISI cut Suncor Energy from an “outperform” rating to an “in-line” rating and reduced their price target for the company from C$58.00 to C$54.00 in a research report on Wednesday, April 3rd. Canaccord Genuity reiterated a “buy” rating and issued a $7.50 price target on shares of in a research report on Tuesday, July 9th. Finally, Edward Jones lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $41.43.

Shares of NYSE CNQ traded up $0.08 during mid-day trading on Friday, hitting $26.08. The company had a trading volume of 3,013,550 shares, compared to its average volume of 2,432,459. The firm has a market capitalization of $31.08 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 1.56 and a beta of 1.15. Canadian Natural Resources has a 1 year low of $21.85 and a 1 year high of $36.80. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.76 and a quick ratio of 0.57. The business’s 50-day simple moving average is $26.96.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were paid a dividend of $0.2794 per share. This represents a $1.12 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend was Thursday, June 13th. Canadian Natural Resources’s dividend payout ratio is 51.63%.

A number of large investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. boosted its position in shares of Canadian Natural Resources by 2.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 42,786 shares of the oil and gas producer’s stock valued at $1,033,000 after acquiring an additional 966 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Canadian Natural Resources by 33.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,046,432 shares of the oil and gas producer’s stock valued at $145,900,000 after acquiring an additional 1,508,995 shares during the period. Natixis Advisors L.P. boosted its position in shares of Canadian Natural Resources by 19.3% in the fourth quarter. Natixis Advisors L.P. now owns 206,488 shares of the oil and gas producer’s stock valued at $4,982,000 after acquiring an additional 33,464 shares during the period. Geode Capital Management LLC boosted its position in shares of Canadian Natural Resources by 23.7% in the fourth quarter. Geode Capital Management LLC now owns 11,718 shares of the oil and gas producer’s stock valued at $282,000 after acquiring an additional 2,242 shares during the period. Finally, QS Investors LLC lifted its position in Canadian Natural Resources by 39.9% in the fourth quarter. QS Investors LLC now owns 15,967 shares of the oil and gas producer’s stock worth $385,000 after purchasing an additional 4,550 shares during the period. 65.06% of the stock is owned by institutional investors.

Canadian Natural Resources Company Profile

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.

See Also: Dividend Achievers

Get a free copy of the Zacks research report on Canadian Natural Resources (CNQ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Canadian Natural Resources (NYSE:CNQ)

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.