Q3 2023 EPS Estimates for Imperial Oil Limited Decreased by Zacks Research (TSE:IMO)

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) – Analysts at Zacks Research reduced their Q3 2023 EPS estimates for shares of Imperial Oil in a research note issued to investors on Thursday, August 31st. Zacks Research analyst T. Saha now expects that the company will earn $1.96 per share for the quarter, down from their previous forecast of $2.01. The consensus estimate for Imperial Oil’s current full-year earnings is $8.25 per share. Zacks Research also issued estimates for Imperial Oil’s Q4 2023 earnings at $1.71 EPS, FY2023 earnings at $6.94 EPS, Q1 2024 earnings at $2.25 EPS, Q3 2024 earnings at $1.14 EPS, FY2024 earnings at $6.68 EPS, Q2 2025 earnings at $2.61 EPS and FY2025 earnings at $5.68 EPS.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its quarterly earnings results on Friday, July 28th. The company reported C$1.15 EPS for the quarter, beating analysts’ consensus estimates of C$1.13 by C$0.02. The company had revenue of C$11.82 billion during the quarter, compared to analysts’ expectations of C$15.08 billion. Imperial Oil had a return on equity of 24.80% and a net margin of 10.66%.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada raised their price objective on shares of Imperial Oil from C$75.00 to C$77.00 and gave the company a “sector perform” rating in a report on Thursday, August 3rd. Desjardins dropped their price target on shares of Imperial Oil from C$79.00 to C$76.00 and set a “hold” rating for the company in a research note on Tuesday, July 25th. National Bankshares reduced their price objective on shares of Imperial Oil from C$88.00 to C$87.00 in a research note on Thursday, June 29th. National Bank Financial decreased their price objective on Imperial Oil from C$87.00 to C$82.00 in a report on Monday, July 17th. Finally, The Goldman Sachs Group lifted their target price on Imperial Oil from C$73.00 to C$78.00 in a report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$78.88.

Imperial Oil Price Performance

Shares of IMO opened at C$78.81 on Monday. The business has a 50-day simple moving average of C$70.32 and a two-hundred day simple moving average of C$68.06. Imperial Oil has a 12-month low of C$55.26 and a 12-month high of C$79.83. The stock has a market cap of C$46.04 billion, a PE ratio of 8.41, a PEG ratio of 0.21 and a beta of 1.90. The company has a quick ratio of 0.98, a current ratio of 1.49 and a debt-to-equity ratio of 18.37.

Imperial Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Sunday, October 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $2.00 annualized dividend and a dividend yield of 2.54%. Imperial Oil’s payout ratio is 21.34%.

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 for, and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment is involved in the transportation and refining of crude oil, blending of refined products, and the distribution and marketing of refined products.