FY2024 EPS Estimates for Imperial Oil Limited (NYSEAMERICAN:IMO) Boosted by Zacks Research

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) – Stock analysts at Zacks Research boosted their FY2024 earnings per share estimates for shares of Imperial Oil in a research note issued to investors on Thursday, September 12th. Zacks Research analyst R. Department now forecasts that the energy company will post earnings per share of $6.08 for the year, up from their prior forecast of $6.03. The consensus estimate for Imperial Oil’s current full-year earnings is $6.29 per share. Zacks Research also issued estimates for Imperial Oil’s Q1 2025 earnings at $1.52 EPS, Q2 2025 earnings at $1.70 EPS, Q3 2025 earnings at $1.52 EPS, Q1 2026 earnings at $1.75 EPS, Q2 2026 earnings at $1.52 EPS and FY2026 earnings at $5.84 EPS.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its quarterly earnings data on Friday, August 2nd. The energy company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.11. The business had revenue of $9.78 billion for the quarter, compared to analyst estimates of $10.50 billion. Imperial Oil had a return on equity of 22.73% and a net margin of 10.05%.

IMO has been the topic of a number of other research reports. Scotiabank reduced their price objective on Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Wolfe Research assumed coverage on Imperial Oil in a report on Thursday, July 18th. They set an “outperform” rating and a $108.00 target price on the stock. Raymond James raised Imperial Oil to a “hold” rating in a report on Tuesday, May 28th. Finally, StockNews.com downgraded Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $99.50.

Imperial Oil Stock Performance

Shares of IMO stock opened at $66.28 on Friday. The firm has a market cap of $35.03 billion, a P/E ratio of 10.39 and a beta of 1.45. Imperial Oil has a twelve month low of $52.97 and a twelve month high of $77.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.40.

Institutional Investors Weigh In On Imperial Oil

Institutional investors and hedge funds have recently made changes to their positions in the business. Manning & Napier Advisors LLC bought a new position in shares of Imperial Oil during the second quarter valued at about $3,064,000. US Bancorp DE lifted its holdings in Imperial Oil by 91.6% in the first quarter. US Bancorp DE now owns 20,210 shares of the energy company’s stock worth $1,397,000 after buying an additional 9,660 shares during the period. Intech Investment Management LLC purchased a new stake in Imperial Oil in the first quarter worth about $720,000. Fiera Capital Corp lifted its holdings in Imperial Oil by 262.5% in the second quarter. Fiera Capital Corp now owns 95,455 shares of the energy company’s stock worth $6,511,000 after buying an additional 69,121 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in shares of Imperial Oil by 1,250.9% during the first quarter. Bessemer Group Inc. now owns 7,849 shares of the energy company’s stock valued at $542,000 after purchasing an additional 7,268 shares during the last quarter. Hedge funds and other institutional investors own 20.74% of the company’s stock.

Imperial Oil Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Wednesday, September 4th will be given a $0.4336 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 2.62%. Imperial Oil’s dividend payout ratio (DPR) is presently 27.90%.

About Imperial Oil

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 and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.