Imperial Oil Limited Expected to Earn Q2 2023 Earnings of $1.62 Per Share (TSE:IMO)

Posted by Defense World Staff on May 17th, 2023

Imperial Oil Limited (TSE:IMO – Get Rating) (NYSEMKT:IMO) – Stock analysts at Zacks Research decreased their Q2 2023 earnings per share (EPS) estimates for shares of Imperial Oil in a research note issued on Monday, May 15th. Zacks Research analyst N. Choudhury now anticipates that the company will post earnings per share of $1.62 for the quarter, down from their prior forecast of $1.73. The consensus estimate for Imperial Oil’s current full-year earnings is $7.95 per share. Zacks Research also issued estimates for Imperial Oil’s Q3 2023 earnings at $1.68 EPS, Q4 2023 earnings at $1.40 EPS, FY2023 earnings at $6.83 EPS, Q1 2024 earnings at $1.82 EPS, Q3 2024 earnings at $1.22 EPS, Q4 2024 earnings at $1.78 EPS, FY2024 earnings at $6.66 EPS and Q1 2025 earnings at $1.27 EPS.

Several other equities research analysts have also issued reports on IMO. National Bank Financial raised their target price on Imperial Oil from C$85.00 to C$88.00 in a research report on Tuesday, April 18th. Raymond James lifted their price objective on Imperial Oil from C$70.00 to C$74.00 and gave the stock a “market perform” rating in a report on Wednesday, February 1st. Veritas Investment Research reissued a “buy” rating on shares of Imperial Oil in a report on Monday, May 1st. Morgan Stanley decreased their price objective on Imperial Oil from C$74.00 to C$72.00 in a report on Monday, March 27th. Finally, National Bankshares lifted their price objective on Imperial Oil from C$85.00 to C$88.00 in a report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Imperial Oil presently has an average rating of “Hold” and a consensus price target of C$79.43.

Imperial Oil Price Performance

Shares of TSE:IMO opened at C$61.18 on Tuesday. Imperial Oil has a 1-year low of C$52.67 and a 1-year high of C$79.83. The stock has a market cap of C$35.74 billion, a PE ratio of 5.18, a price-to-earnings-growth ratio of 0.21 and a beta of 1.89. The stock’s fifty day simple moving average is C$67.64 and its two-hundred day simple moving average is C$69.09. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 19.66.

Imperial Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 2nd will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, June 1st. This is a boost from Imperial Oil’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a dividend yield of 3.27%. Imperial Oil’s payout ratio is 16.92%.

About Imperial Oil

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Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores for, and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2021, this segment had 386 million oil-equivalent barrels of proved undeveloped reserves.