Brokers Offer Predictions for Cenovus Energy Inc.’s Q1 2023 Earnings (TSE:CVE)

Posted by Defense World Staff on Apr 24th, 2023

Cenovus Energy Inc. (TSE:CVE – Get Rating) (NYSE:CVE) – Equities researchers at Zacks Research issued their Q1 2023 earnings per share estimates for Cenovus Energy in a research report issued on Wednesday, April 19th. Zacks Research analyst U. Dutta anticipates that the company will post earnings of $0.42 per share for the quarter. The consensus estimate for Cenovus Energy’s current full-year earnings is $3.15 per share. Zacks Research also issued estimates for Cenovus Energy’s Q2 2023 earnings at $0.53 EPS, Q3 2023 earnings at $0.58 EPS, Q4 2023 earnings at $0.56 EPS, FY2023 earnings at $2.09 EPS, Q1 2024 earnings at $0.70 EPS, Q2 2024 earnings at $0.65 EPS, Q3 2024 earnings at $0.69 EPS, Q4 2024 earnings at $0.76 EPS, FY2024 earnings at $2.80 EPS, Q1 2025 earnings at $0.40 EPS and FY2025 earnings at $1.91 EPS.

Several other equities research analysts also recently commented on CVE. Scotiabank downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, April 14th. ATB Capital decreased their price objective on Cenovus Energy from C$36.00 to C$31.00 in a report on Monday, April 17th. BMO Capital Markets decreased their price objective on Cenovus Energy from C$30.00 to C$27.00 in a report on Monday, April 17th. Morgan Stanley decreased their price objective on Cenovus Energy from C$33.00 to C$32.00 in a report on Monday, March 27th. Finally, CIBC decreased their price objective on Cenovus Energy from C$32.00 to C$31.00 in a report on Tuesday, January 17th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$32.62.

Cenovus Energy Trading Down 0.9 %

TSE CVE opened at C$23.69 on Monday. The company has a market cap of C$45.25 billion, a price-to-earnings ratio of 7.40, a P/E/G ratio of 0.09 and a beta of 2.93. Cenovus Energy has a 52 week low of C$19.90 and a 52 week high of C$31.19. The business has a 50 day moving average price of C$24.15 and a 200-day moving average price of C$25.36. The company has a quick ratio of 1.00, a current ratio of 1.55 and a debt-to-equity ratio of 42.20.

Cenovus Energy (TSE:CVE – Get Rating) (NYSE:CVE) last issued its earnings results on Thursday, February 16th. The company reported C$0.39 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.64 by C($0.25). The business had revenue of C$14.06 billion during the quarter, compared to the consensus estimate of C$13.07 billion. Cenovus Energy had a return on equity of 25.20% and a net margin of 9.64%.

Cenovus Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 31st were given a dividend of $0.105 per share. The ex-dividend date was Tuesday, March 14th. This represents a $0.42 annualized dividend and a dividend yield of 1.77%. Cenovus Energy’s payout ratio is 13.44%.

Insider Activity at Cenovus Energy

In other Cenovus Energy news, Director Alex Pourbaix acquired 25,000 shares of the business’s stock in a transaction on Thursday, March 16th. The shares were acquired at an average price of C$21.36 per share, with a total value of C$534,000.00. In other Cenovus Energy news, Director Alex Pourbaix acquired 25,000 shares of the business’s stock in a transaction on Thursday, March 16th. The shares were acquired at an average price of C$21.36 per share, with a total value of C$534,000.00. Also, Senior Officer Jonathan Michael Mckenzie acquired 50,000 shares of the business’s stock in a transaction on Friday, February 17th. The stock was acquired at an average cost of C$24.83 per share, for a total transaction of C$1,241,500.00. Insiders have purchased a total of 97,000 shares of company stock valued at $2,309,090 over the last 90 days. Insiders own 30.83% of the company’s stock.

About Cenovus Energy

(Get Rating)

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.