Q2 2024 EPS Estimates for Equinor ASA (NYSE:EQNR) Lifted by Zacks Research

Posted by Defense World Staff on Jun 24th, 2023

Equinor ASA (NYSE:EQNR – Get Rating) – Equities research analysts at Zacks Research increased their Q2 2024 earnings estimates for Equinor ASA in a research report issued on Thursday, June 22nd. Zacks Research analyst U. Dutta now anticipates that the company will post earnings of $1.32 per share for the quarter, up from their prior forecast of $1.31. The consensus estimate for Equinor ASA’s current full-year earnings is $4.55 per share. Zacks Research also issued estimates for Equinor ASA’s Q1 2025 earnings at $0.83 EPS.

Equinor ASA (NYSE:EQNR – Get Rating) last announced its earnings results on Thursday, May 4th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. The company had revenue of $29.22 billion for the quarter, compared to the consensus estimate of $24.73 billion. Equinor ASA had a net margin of 20.20% and a return on equity of 43.11%.

A number of other analysts have also issued reports on the stock. Morgan Stanley lowered shares of Equinor ASA from an “equal weight” rating to an “underweight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a research note on Thursday, March 30th. Societe Generale raised shares of Equinor ASA from a “hold” rating to a “buy” rating in a research note on Wednesday, March 22nd. BNP Paribas cut Equinor ASA from a “neutral” rating to an “underperform” rating in a research report on Tuesday, April 4th. Finally, StockNews.com started coverage on Equinor ASA in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $361.75.

Equinor ASA Stock Down 3.1 %

NYSE:EQNR opened at $28.38 on Friday. The business’s fifty day moving average price is $28.27 and its 200 day moving average price is $30.34. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.96 and a quick ratio of 1.87. Equinor ASA has a 1-year low of $25.23 and a 1-year high of $42.53.

Equinor ASA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Tuesday, August 15th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 12.68%. The ex-dividend date is Monday, August 14th. This is an increase from Equinor ASA’s previous quarterly dividend of $0.20. Equinor ASA’s dividend payout ratio (DPR) is 11.11%.

Hedge Funds Weigh In On Equinor ASA

A number of institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership grew its holdings in Equinor ASA by 42.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,186,246 shares of the company’s stock valued at $382,086,000 after buying an additional 3,052,907 shares during the last quarter. FMR LLC grew its stake in shares of Equinor ASA by 30.3% in the first quarter. FMR LLC now owns 9,137,576 shares of the company’s stock worth $259,781,000 after acquiring an additional 2,125,122 shares during the last quarter. Balyasny Asset Management LLC bought a new position in Equinor ASA during the third quarter worth $146,540,000. Goldman Sachs Group Inc. raised its stake in Equinor ASA by 47.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,752,274 shares of the company’s stock valued at $130,429,000 after purchasing an additional 1,210,930 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Equinor ASA by 100.9% in the 3rd quarter. Renaissance Technologies LLC now owns 2,416,923 shares of the company’s stock valued at $80,024,000 after purchasing an additional 1,214,100 shares during the period.

Equinor ASA Company Profile

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Equinor ASA, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and other forms of energy in Norway and internationally. It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; Renewables; and Other segments.