Analysts Are Revising Their Forecasts Cenovus Energy (NYSE:CVE)

Earnings results for Cenovus Energy (NYSE:CVE)

Cenovus Energy Inc is estimated to report earnings on 07/22/2021. The upcoming earnings date is derived from an algorithm based on a company’s historical reporting dates. Our vendor, Zacks Investment Research, might revise this date in the future, once the company announces the actual earnings date. According to Zacks Investment Research, based on 1 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.29. The reported EPS for the same quarter last year was $-0.25.

Cenovus Energy last issued its quarterly earnings data on May 6th, 2021. The oil and gas company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by $0.04. The firm earned $7.52 billion during the quarter, compared to analyst estimates of $7.32 billion. Cenovus Energy has generated ($1.59) earnings per share over the last year. Cenovus Energy has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Thursday, July 22nd, 2021 based off prior year’s report dates.

Analyst Opinion on Cenovus Energy (NYSE:CVE)

17 Wall Street analysts have issued ratings and price targets for Cenovus Energy in the last 12 months. Their average twelve-month price target is $12.83, predicting that the stock has a possible upside of 58.63%. The high price target for CVE is $20.00 and the low price target for CVE is $6.00. There are currently 3 hold ratings and 14 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Cenovus Energy has received a consensus rating of Buy. The company’s average rating score is 2.82, and is based on 14 buy ratings, 3 hold ratings, and no sell ratings. According to analysts’ consensus price target of $12.83, Cenovus Energy has a forecasted upside of 58.6% from its current price of $8.09. Cenovus Energy has been the subject of 8 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Cenovus Energy (NYSE:CVE)

Cenovus Energy does not currently pay a dividend. Cenovus Energy has only been increasing its dividend for 1 years.

Insiders buying/selling: Cenovus Energy (NYSE:CVE)

In the past three months, Cenovus Energy insiders have not sold or bought any company stock. 50.81% of the stock of Cenovus Energy is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Cenovus Energy (NYSE:CVE

Earnings for Cenovus Energy are expected to decrease by -29.55% in the coming year, from $0.88 to $0.62 per share. The P/E ratio of Cenovus Energy is -28.89, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Cenovus Energy is -28.89, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Cenovus Energy has a P/B Ratio of 0.80. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

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