Brokerages Anticipate Encana Corporation (ECA) to Post $0.05 EPS

Analysts expect Encana Corporation (NYSE:ECA) (TSE:ECA) to announce earnings per share of $0.05 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Encana Corporation’s earnings. The highest EPS estimate is $0.06 and the lowest is $0.04. Encana Corporation posted earnings of $0.10 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 50%. The company is expected to issue its next quarterly earnings results before the market opens on Friday, July 21st.

On average, analysts expect that Encana Corporation will report full year earnings of $0.33 per share for the current financial year, with EPS estimates ranging from $0.24 to $0.48. For the next fiscal year, analysts anticipate that the business will post earnings of $0.69 per share, with EPS estimates ranging from $0.36 to $1.07. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Encana Corporation.

Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its quarterly earnings data on Tuesday, May 2nd. The oil and gas company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. Encana Corporation had a negative net margin of 3.87% and a positive return on equity of 5.21%. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $789.49 million. During the same period in the previous year, the business earned ($0.15) earnings per share.

A number of equities research analysts recently weighed in on the company. BidaskClub lowered Encana Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday. GMP Securities reaffirmed a “buy” rating on shares of Encana Corporation in a research note on Wednesday, June 14th. Macquarie downgraded Encana Corporation from an “outperform” rating to a “neutral” rating in a research note on Wednesday. TD Securities set a $12.50 price target on Encana Corporation and gave the stock a “hold” rating in a research note on Wednesday, May 3rd. Finally, Canaccord Genuity set a $14.00 price target on Encana Corporation and gave the stock a “buy” rating in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Encana Corporation currently has an average rating of “Buy” and an average price target of $13.75.

Shares of Encana Corporation (NYSE:ECA) traded up 2.67% during trading on Wednesday, reaching $8.46. The company had a trading volume of 14,709,341 shares. The firm’s market capitalization is $8.23 billion. The company has a 50 day moving average of $10.24 and a 200-day moving average of $11.49. Encana Corporation has a 52-week low of $7.22 and a 52-week high of $13.85.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.06 dividend on an annualized basis and a yield of 0.71%. Encana Corporation’s payout ratio is -31.58%.

Large investors have recently added to or reduced their stakes in the stock. Causeway Capital Management LLC increased its stake in Encana Corporation by 95.2% in the first quarter. Causeway Capital Management LLC now owns 48,768,776 shares of the oil and gas company’s stock worth $571,082,000 after buying an additional 23,779,815 shares during the last quarter. Steadfast Capital Management LP increased its stake in Encana Corporation by 12.2% in the first quarter. Steadfast Capital Management LP now owns 19,974,573 shares of the oil and gas company’s stock worth $233,902,000 after buying an additional 2,164,300 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Encana Corporation by 3,113.0% in the first quarter. Tower Research Capital LLC TRC now owns 18,796 shares of the oil and gas company’s stock worth $220,000 after buying an additional 18,211 shares during the last quarter. Bank of Nova Scotia increased its stake in Encana Corporation by 4.1% in the first quarter. Bank of Nova Scotia now owns 7,211,643 shares of the oil and gas company’s stock worth $84,492,000 after buying an additional 285,067 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Encana Corporation by 145.8% in the first quarter. Point72 Asset Management L.P. now owns 3,014,900 shares of the oil and gas company’s stock worth $35,304,000 after buying an additional 1,788,500 shares during the last quarter. Institutional investors and hedge funds own 68.19% of the company’s stock.

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Encana Corporation Company Profile

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.

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