FY2024 Earnings Estimate for Canadian Natural Resources Limited (TSE:CNQ) Issued By Zacks Research

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Zacks Research cut their FY2024 earnings per share estimates for Canadian Natural Resources in a report issued on Thursday, September 19th. Zacks Research analyst T. Saha now expects that the company will post earnings of $3.34 per share for the year, down from their prior forecast of $3.36. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $3.56 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q4 2024 earnings at $0.93 EPS, Q2 2025 earnings at $1.14 EPS, Q3 2025 earnings at $0.87 EPS, Q4 2025 earnings at $0.81 EPS, FY2025 earnings at $3.93 EPS, Q1 2026 earnings at $0.96 EPS, Q2 2026 earnings at $0.66 EPS and FY2026 earnings at $3.35 EPS.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.04. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. The firm had revenue of C$9.05 billion during the quarter, compared to the consensus estimate of C$8.41 billion.

A number of other analysts also recently issued reports on the company. Jefferies Financial Group lowered their target price on Canadian Natural Resources from C$52.00 to C$49.00 and set a “hold” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada dropped their price objective on Canadian Natural Resources from C$62.00 to C$59.00 in a research note on Tuesday, September 17th. Raymond James decreased their target price on shares of Canadian Natural Resources from C$97.00 to C$49.00 and set a “market perform” rating for the company in a research note on Wednesday, June 12th. Wolfe Research raised shares of Canadian Natural Resources to a “hold” rating in a research report on Thursday, July 18th. Finally, Scotiabank decreased their price objective on shares of Canadian Natural Resources from C$114.00 to C$57.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 11th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Canadian Natural Resources currently has a consensus rating of “Hold” and a consensus price target of C$90.31.

Canadian Natural Resources Stock Down 1.2 %

Canadian Natural Resources stock opened at C$45.25 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 29.64. Canadian Natural Resources has a 1-year low of C$40.02 and a 1-year high of C$56.49. The company has a fifty day simple moving average of C$47.49 and a 200 day simple moving average of C$74.86. The company has a market cap of C$96.38 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 0.53 and a beta of 1.91.

Canadian Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 4.64%. The ex-dividend date is Friday, September 13th. Canadian Natural Resources’s payout ratio is 59.26%.

About Canadian Natural Resources

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).