Imperial Oil Limited Expected to Post Q4 2023 Earnings of $1.69 Per Share (TSE:IMO)

Imperial Oil Limited (TSE:IMO – Free Report) (NYSEMKT:IMO) – Zacks Research dropped their Q4 2023 earnings per share estimates for shares of Imperial Oil in a research report issued to clients and investors on Thursday, September 21st. Zacks Research analyst T. Saha now forecasts that the company will post earnings per share of $1.69 for the quarter, down from their previous estimate of $1.71. The consensus estimate for Imperial Oil’s current full-year earnings is $8.98 per share. Zacks Research also issued estimates for Imperial Oil’s Q2 2024 earnings at $2.21 EPS, Q4 2024 earnings at $1.07 EPS, FY2024 earnings at $6.18 EPS, Q1 2025 earnings at $0.43 EPS and FY2025 earnings at $5.17 EPS.

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Imperial Oil (TSE:IMO – Get Free Report) (NYSEMKT:IMO) last announced its earnings results on Friday, July 28th. The company reported C$1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.13 by C$0.02. The firm had revenue of C$11.82 billion during the quarter, compared to analysts’ expectations of C$15.08 billion. Imperial Oil had a return on equity of 24.80% and a net margin of 10.66%.

A number of other research firms have also weighed in on IMO. The Goldman Sachs Group lifted their price objective on shares of Imperial Oil from C$73.00 to C$78.00 in a research report on Thursday, August 17th. UBS Group set a C$80.00 price objective on shares of Imperial Oil and gave the company a “buy” rating in a research report on Wednesday, July 12th. CIBC raised their price objective on shares of Imperial Oil from C$75.00 to C$76.00 and gave the company a “neutral” rating in a research report on Tuesday, August 29th. Desjardins increased their price objective on Imperial Oil from C$76.00 to C$83.00 and gave the stock a “hold” rating in a research report on Monday, September 18th. Finally, National Bank Financial cut their price objective on Imperial Oil from C$87.00 to C$82.00 in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Imperial Oil presently has a consensus rating of “Hold” and an average target price of C$79.31.

View Our Latest Research Report on Imperial Oil

Imperial Oil Stock Up 1.2 %

IMO stock opened at C$78.77 on Friday. The company has a fifty day moving average price of C$74.13 and a 200 day moving average price of C$69.16. Imperial Oil has a 12 month low of C$55.26 and a 12 month high of C$81.27. The company has a market cap of C$46.01 billion, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 0.21 and a beta of 1.87. The company has a debt-to-equity ratio of 18.37, a current ratio of 1.49 and a quick ratio of 0.98.

Imperial Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Sunday, October 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Thursday, August 31st. Imperial Oil’s dividend payout ratio is currently 21.34%.

Imperial Oil Company Profile

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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 crude oil, and bitumen. The Downstream segment is involved in the transportation and refining of crude oil, blending of refined products, and the distribution and marketing of refined products.

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