Q3 2023 Earnings Forecast for Imperial Oil Limited Issued By Zacks Research (TSE:IMO)

Imperial Oil Limited (TSE:IMO – Get Rating) (NYSEMKT:IMO) – Research analysts at Zacks Research upped their Q3 2023 earnings estimates for shares of Imperial Oil in a research report issued on Wednesday, May 24th. Zacks Research analyst N. Choudhury now anticipates that the company will post earnings of $1.77 per share for the quarter, up from their prior estimate of $1.68. The consensus estimate for Imperial Oil’s current full-year earnings is $8.02 per share. Zacks Research also issued estimates for Imperial Oil’s Q4 2023 earnings at $1.43 EPS, FY2023 earnings at $6.94 EPS, Q1 2024 earnings at $1.91 EPS, Q1 2025 earnings at $1.32 EPS and FY2025 earnings at $5.55 EPS.

Other equities analysts have also issued reports about the company. Scotiabank boosted their price target on Imperial Oil from C$72.00 to C$79.00 in a research note on Thursday, April 13th. Morgan Stanley cut their target price on shares of Imperial Oil from C$74.00 to C$72.00 in a research note on Monday, March 27th. JPMorgan Chase & Co. lifted their price target on shares of Imperial Oil from C$78.00 to C$79.00 in a research note on Tuesday, May 2nd. National Bank Financial increased their price objective on shares of Imperial Oil from C$85.00 to C$88.00 in a research report on Tuesday, April 18th. Finally, Raymond James boosted their target price on Imperial Oil from C$70.00 to C$74.00 and gave the company a “market perform” rating in a research report on Wednesday, February 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$79.07.

Imperial Oil Price Performance

IMO stock opened at C$63.95 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.41 and a debt-to-equity ratio of 18.72. The firm has a market cap of C$37.36 billion, a price-to-earnings ratio of 5.49, a PEG ratio of 0.21 and a beta of 1.89. The company’s fifty day simple moving average is C$67.16 and its 200 day simple moving average is C$68.58. Imperial Oil has a 12-month low of C$52.67 and a 12-month high of C$79.83.

Imperial Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 2nd will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $2.00 annualized dividend and a dividend yield of 3.13%. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.44. Imperial Oil’s payout ratio is 17.17%.

Imperial Oil Company Profile

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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 for, and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2021, this segment had 386 million oil-equivalent barrels of proved undeveloped reserves.