Q2 2024 Earnings Estimate for Equinor ASA Issued By Zacks Research (NYSE:EQNR)

Equinor ASA (NYSE:EQNR) – Equities research analysts at Zacks Research reduced their Q2 2024 earnings per share estimates for Equinor ASA in a research report issued on Tuesday, September 12th. Zacks Research analyst U. Dutta now expects that the company will post earnings per share of $1.14 for the quarter, down from their prior estimate of $1.16. The consensus estimate for Equinor ASA’s current full-year earnings is $3.99 per share. Zacks Research also issued estimates for Equinor ASA’s Q3 2024 earnings at $1.02 EPS and Q1 2025 earnings at $1.07 EPS.

EQNR has been the subject of several other research reports. StockNews.com upgraded Equinor ASA from a “hold” rating to a “buy” rating in a research note on Tuesday. Morgan Stanley upgraded shares of Equinor ASA from an “underweight” rating to an “equal weight” rating in a research note on Friday, September 1st. Royal Bank of Canada upgraded shares of Equinor ASA from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 9th. Finally, Berenberg Bank cut shares of Equinor ASA from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Equinor ASA currently has a consensus rating of “Hold”.

Equinor ASA Stock Up 1.8 %

Shares of NYSE EQNR opened at $33.08 on Thursday. Equinor ASA has a 52 week low of $25.23 and a 52 week high of $38.83. The business has a 50-day simple moving average of $30.68 and a two-hundred day simple moving average of $29.34. The company has a quick ratio of 1.73, a current ratio of 1.84 and a debt-to-equity ratio of 0.50. The company has a market cap of $103.27 billion, a P/E ratio of 4.31, a P/E/G ratio of 1.08 and a beta of 1.00.

Equinor ASA (NYSE:EQNR) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.08). Equinor ASA had a net margin of 18.50% and a return on equity of 35.90%. The firm had revenue of $22.87 billion during the quarter, compared to analysts’ expectations of $43.43 billion. During the same quarter in the previous year, the company posted $1.56 EPS.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EQNR. Arrowstreet Capital Limited Partnership lifted its holdings in Equinor ASA by 42.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 10,186,246 shares of the company’s stock worth $382,086,000 after buying an additional 3,052,907 shares during the period. FMR LLC lifted its holdings in Equinor ASA by 30.3% in the first quarter. FMR LLC now owns 9,137,576 shares of the company’s stock worth $259,781,000 after buying an additional 2,125,122 shares during the period. Wellington Management Group LLP lifted its holdings in Equinor ASA by 1,107.5% in the first quarter. Wellington Management Group LLP now owns 2,280,296 shares of the company’s stock worth $64,829,000 after buying an additional 2,091,447 shares during the period. Renaissance Technologies LLC bought a new position in Equinor ASA in the first quarter worth $55,819,000. Finally, Bank of New York Mellon Corp raised its holdings in Equinor ASA by 4,648.1% in the second quarter. Bank of New York Mellon Corp now owns 1,420,252 shares of the company’s stock worth $41,486,000 after purchasing an additional 1,390,340 shares in the last quarter. 5.38% of the stock is owned by institutional investors.

About Equinor ASA

Equinor ASA, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and other forms of energy in Norway and internationally. It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; Renewables; and Other segments.