Zacks: Analysts Anticipate Encana Corp (ECA) Will Post Quarterly Sales of $999.75 Million

Equities research analysts expect Encana Corp (NYSE:ECA) (TSE:ECA) to report sales of $999.75 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Encana’s earnings. The lowest sales estimate is $889.00 million and the highest is $1.09 billion. Encana posted sales of $822.00 million during the same quarter last year, which suggests a positive year over year growth rate of 21.6%. The company is expected to issue its next quarterly earnings report on Thursday, February 15th.

On average, analysts expect that Encana will report full-year sales of $999.75 million for the current year, with estimates ranging from $3.01 billion to $4.33 billion. For the next financial year, analysts anticipate that the firm will post sales of $4.57 billion per share, with estimates ranging from $4.10 billion to $5.09 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Encana.

Several brokerages recently issued reports on ECA. Zacks Investment Research lowered shares of Encana from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Barclays lifted their price target on shares of Encana from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, November 20th. National Bank Financial lifted their price target on shares of Encana from $14.00 to $14.50 and gave the company an “outperform” rating in a report on Thursday, November 9th. TD Securities lifted their price target on shares of Encana from $14.50 to $15.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Finally, Royal Bank of Canada set a $15.00 price target on shares of Encana and gave the company a “buy” rating in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $14.43.

Shares of Encana (ECA) traded down $0.12 during midday trading on Wednesday, reaching $13.35. 9,625,463 shares of the company traded hands, compared to its average volume of 6,970,000. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market capitalization of $12,980.00, a price-to-earnings ratio of 16.69 and a beta of 2.15. Encana has a 12 month low of $8.01 and a 12 month high of $14.01.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Thursday, December 14th. Encana’s dividend payout ratio (DPR) is 7.50%.

Hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew its holdings in shares of Encana by 6.5% in the second quarter. BNP Paribas Arbitrage SA now owns 146,975 shares of the oil and gas company’s stock worth $1,293,000 after purchasing an additional 9,012 shares during the last quarter. Blair William & Co. IL grew its holdings in shares of Encana by 2.5% in the second quarter. Blair William & Co. IL now owns 45,472 shares of the oil and gas company’s stock worth $400,000 after purchasing an additional 1,115 shares during the last quarter. Pacad Investment Ltd. bought a new position in shares of Encana in the second quarter worth about $396,000. Oppenheimer Asset Management Inc. grew its holdings in shares of Encana by 61.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 217,222 shares of the oil and gas company’s stock worth $1,911,000 after purchasing an additional 82,706 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Encana by 13.0% in the second quarter. JPMorgan Chase & Co. now owns 577,353 shares of the oil and gas company’s stock worth $5,080,000 after purchasing an additional 66,392 shares during the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

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

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