Brokerages Anticipate Canadian Natural Resources Ltd (CNQ) to Post $0.39 Earnings Per Share

Wall Street brokerages expect that Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) will post $0.39 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Canadian Natural Resources’ earnings. The lowest EPS estimate is $0.28 and the highest is $0.52. Canadian Natural Resources reported earnings of $0.56 per share in the same quarter last year, which would suggest a negative year over year growth rate of 30.4%. The firm is expected to report its next earnings report before the market opens on Thursday, May 9th.

On average, analysts expect that Canadian Natural Resources will report full-year earnings of $1.73 per share for the current year, with EPS estimates ranging from $1.04 to $2.56. For the next financial year, analysts forecast that the business will post earnings of $2.17 per share, with EPS estimates ranging from $1.32 to $3.83. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Canadian Natural Resources.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, March 7th. The oil and gas producer reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.21). Canadian Natural Resources had a return on equity of 9.62% and a net margin of 11.69%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $3.99 billion.

A number of brokerages have recently weighed in on CNQ. Tudor Pickering raised shares of Canadian Natural Resources from a “hold” rating to a “buy” rating in a research note on Thursday, January 24th. Credit Suisse Group initiated coverage on shares of Canadian Natural Resources in a report on Monday, January 28th. They set an “outperform” rating and a $48.00 price target on the stock. Morgan Stanley restated a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, January 29th. CIBC restated a “buy” rating on shares of Canadian Natural Resources in a research note on Saturday, February 2nd. Finally, Raymond James reiterated a “buy” rating on shares of Canadian Natural Resources in a research report on Friday, February 8th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Canadian Natural Resources presently has a consensus rating of “Buy” and an average target price of $41.31.

Canadian Natural Resources stock opened at $28.09 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.63 and a debt-to-equity ratio of 0.61. The stock has a market cap of $33.42 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 2.71 and a beta of 1.20. Canadian Natural Resources has a 52-week low of $21.85 and a 52-week high of $38.20.

Institutional investors and hedge funds have recently bought and sold shares of the business. Mraz Amerine & Associates Inc. boosted its stake in shares of Canadian Natural Resources by 118.6% in the 1st quarter. Mraz Amerine & Associates Inc. now owns 48,519 shares of the oil and gas producer’s stock valued at $1,334,000 after purchasing an additional 26,322 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Canadian Natural Resources by 7.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,992,298 shares of the oil and gas producer’s stock valued at $137,106,000 after purchasing an additional 334,996 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Canadian Natural Resources by 10.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 11,858,269 shares of the oil and gas producer’s stock valued at $324,485,000 after purchasing an additional 1,160,796 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. boosted its stake in shares of Canadian Natural Resources by 0.4% in the 1st quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 2,429,437 shares of the oil and gas producer’s stock valued at $66,721,000 after purchasing an additional 9,394 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in shares of Canadian Natural Resources in the 1st quarter valued at about $100,743,000. Hedge funds and other institutional investors own 67.60% of the company’s stock.

About Canadian Natural Resources

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.

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