Encana Corporation (ECA) to Post Q3 2017 Earnings of $0.08 Per Share, Jefferies Group Forecasts

Encana Corporation (NYSE:ECA) (TSE:ECA) – Research analysts at Jefferies Group dropped their Q3 2017 earnings estimates for Encana Corporation in a research report issued on Monday. Jefferies Group analyst Z. Parham now expects that the oil and gas company will post earnings per share of $0.08 for the quarter, down from their previous estimate of $0.09. Jefferies Group currently has a “Buy” rating and a $12.00 target price on the stock. Jefferies Group also issued estimates for Encana Corporation’s FY2017 earnings at $0.52 EPS, Q4 2018 earnings at $0.23 EPS, Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.25 EPS, Q3 2019 earnings at $0.27 EPS and FY2019 earnings at $1.06 EPS.

ECA has been the subject of a number of other research reports. Raymond James Financial, Inc. raised shares of Encana Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, July 5th. Zacks Investment Research cut shares of Encana Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. Macquarie raised shares of Encana Corporation from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $10.00 to $14.50 in a research report on Thursday, September 28th. Barclays PLC reaffirmed an “overweight” rating and set a $8.00 price objective on shares of Encana Corporation in a research report on Saturday, July 22nd. Finally, Citigroup Inc. lowered their price objective on shares of Encana Corporation from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $13.63.

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Shares of Encana Corporation (NYSE:ECA) opened at 11.43 on Wednesday. Encana Corporation has a 1-year low of $8.01 and a 1-year high of $13.85. The stock’s 50 day moving average is $10.53 and its 200 day moving average is $10.20. The company has a market cap of $11.12 billion, a P/E ratio of 13.62 and a beta of 2.12.

Encana Corporation (NYSE:ECA) (TSE:ECA) last announced its earnings results on Friday, July 21st. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.15. Encana Corporation had a return on equity of 6.25% and a net margin of 19.09%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $773.19 million. During the same quarter in the previous year, the business earned $0.10 earnings per share.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.015 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.06 annualized dividend and a yield of 0.52%. Encana Corporation’s dividend payout ratio is presently 6.98%.

Hedge funds have recently modified their holdings of the business. Steadfast Capital Management LP boosted its position in Encana Corporation by 12.2% in the 1st quarter. Steadfast Capital Management LP now owns 19,974,573 shares of the oil and gas company’s stock valued at $233,902,000 after buying an additional 2,164,300 shares during the period. BlueCrest Capital Management Ltd boosted its position in Encana Corporation by 600.0% in the 1st quarter. BlueCrest Capital Management Ltd now owns 1,100,373 shares of the oil and gas company’s stock valued at $12,885,000 after buying an additional 943,183 shares during the period. Vanguard Group Inc. boosted its position in Encana Corporation by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 22,637,700 shares of the oil and gas company’s stock valued at $265,086,000 after buying an additional 994,074 shares during the period. Capital Fund Management S.A. boosted its position in Encana Corporation by 103.1% in the 2nd quarter. Capital Fund Management S.A. now owns 563,668 shares of the oil and gas company’s stock valued at $4,960,000 after buying an additional 286,089 shares during the period. Finally, Parkwood LLC boosted its position in Encana Corporation by 15.4% in the 2nd quarter. Parkwood LLC now owns 376,727 shares of the oil and gas company’s stock valued at $3,315,000 after buying an additional 50,376 shares during the period. 66.76% of the stock is owned by institutional investors.

About Encana Corporation

Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. The Company’s operations also include the marketing of natural gas, oil and NGLs. All of its reserves and production are located in North America.

Earnings History and Estimates for Encana Corporation (NYSE:ECA)

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