FY2022 EPS Estimates for Cenovus Energy Inc. (TSE:CVE) Cut by Analyst

Cenovus Energy Inc. (TSE:CVE – Get Rating) (NYSE:CVE) – Analysts at Jefferies Financial Group lowered their FY2022 earnings per share (EPS) estimates for Cenovus Energy in a research report issued to clients and investors on Monday, January 23rd. Jefferies Financial Group analyst L. Byrne now forecasts that the company will post earnings per share of $3.43 for the year, down from their previous forecast of $3.69. Jefferies Financial Group has a “Buy” rating and a $35.00 price objective on the stock. The consensus estimate for Cenovus Energy’s current full-year earnings is $4.02 per share. Jefferies Financial Group also issued estimates for Cenovus Energy’s FY2023 earnings at $3.42 EPS.

Cenovus Energy (TSE:CVE – Get Rating) (NYSE:CVE) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported C$0.81 EPS for the quarter, missing analysts’ consensus estimates of C$1.07 by C($0.26). The company had revenue of C$17.47 billion during the quarter, compared to analyst estimates of C$14.34 billion.

Several other research analysts have also recently issued reports on CVE. Scotiabank dropped their price target on Cenovus Energy from C$34.00 to C$33.00 in a report on Thursday, October 13th. Royal Bank of Canada boosted their price target on shares of Cenovus Energy from C$31.00 to C$32.00 and gave the company an “outperform” rating in a report on Thursday, November 3rd. Raymond James reduced their price objective on shares of Cenovus Energy from C$33.00 to C$32.00 in a research note on Monday, January 16th. JPMorgan Chase & Co. reduced their price objective on shares of Cenovus Energy from C$36.00 to C$34.00 in a research note on Tuesday, January 17th. Finally, CIBC cut their target price on shares of Cenovus Energy from C$32.00 to C$31.00 in a research report on Tuesday, January 17th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, Cenovus Energy has a consensus rating of “Buy” and a consensus price target of C$31.07.

Cenovus Energy Stock Performance

CVE opened at C$25.51 on Tuesday. Cenovus Energy has a twelve month low of C$17.16 and a twelve month high of C$31.19. The stock has a market cap of C$48.95 billion and a PE ratio of 9.77. The business’s 50 day moving average is C$25.78 and its 200-day moving average is C$24.78. The company has a current ratio of 1.55, a quick ratio of 1.00 and a debt-to-equity ratio of 41.92.

Cenovus Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 30th were issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Wednesday, December 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently 10.73%.

About Cenovus Energy

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Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.