FY2024 EPS Estimates for Cenovus Energy Cut by Raymond James

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) – Analysts at Raymond James cut their FY2024 earnings estimates for shares of Cenovus Energy in a research report issued on Thursday, October 31st. Raymond James analyst M. Barth now anticipates that the company will post earnings per share of $2.19 for the year, down from their prior estimate of $2.37. The consensus estimate for Cenovus Energy’s current full-year earnings is $2.26 per share. Raymond James also issued estimates for Cenovus Energy’s FY2025 earnings at $2.25 EPS, FY2026 earnings at $2.45 EPS, FY2027 earnings at $2.81 EPS and FY2028 earnings at $3.33 EPS.

Several other equities research analysts have also recently issued reports on the stock. Scotiabank lowered their target price on shares of Cenovus Energy from C$35.00 to C$34.00 in a research note on Friday, July 12th. TD Securities raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Desjardins lifted their target price on shares of Cenovus Energy from C$31.50 to C$33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group lowered their target price on shares of Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, Royal Bank of Canada reduced their price target on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cenovus Energy presently has an average rating of “Buy” and a consensus target price of C$31.90.

Cenovus Energy Price Performance

Cenovus Energy stock opened at C$22.55 on Monday. The company’s fifty day moving average price is C$23.47 and its 200 day moving average price is C$25.84. Cenovus Energy has a 1 year low of C$19.82 and a 1 year high of C$29.96. The stock has a market capitalization of C$41.94 billion, a P/E ratio of 8.98, a P/E/G ratio of 0.09 and a beta of 2.63. The company has a debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66.

Insider Buying and Selling at Cenovus Energy

In related news, Senior Officer Jeffery George Lawson bought 3,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were bought at an average price of C$27.21 per share, with a total value of C$95,235.00. In related news, Senior Officer Jeffery George Lawson bought 3,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were bought at an average price of C$27.21 per share, with a total value of C$95,235.00. Also, Senior Officer Keith Chiasson bought 25,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of C$23.40 per share, for a total transaction of C$585,000.00. Insiders have purchased 152,700 shares of company stock valued at $3,470,597 over the last 90 days. 32.03% of the stock is owned by insiders.

Cenovus Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 3.19%. Cenovus Energy’s payout ratio is currently 28.69%.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.