Zacks Research Has Negative View of TSE:CNQ FY2024 Earnings

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Equities researchers at Zacks Research decreased their FY2024 earnings per share (EPS) estimates for shares of Canadian Natural Resources in a report released on Friday, October 18th. Zacks Research analyst T. Saha now anticipates that the company will post earnings per share of $3.25 for the year, down from their previous estimate of $3.34. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $3.83 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q4 2024 earnings at $0.80 EPS, Q3 2025 earnings at $0.71 EPS, Q1 2026 earnings at $0.86 EPS, Q3 2026 earnings at $0.67 EPS and FY2026 earnings at $3.01 EPS.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, beating the consensus estimate of C$0.84 by C$0.04. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. The firm had revenue of C$9.05 billion for the quarter, compared to analysts’ expectations of C$8.41 billion.

Other equities research analysts have also issued reports about the stock. CIBC lifted their target price on shares of Canadian Natural Resources from C$57.50 to C$59.00 in a research report on Wednesday, October 9th. TD Securities lifted their price objective on shares of Canadian Natural Resources from C$56.00 to C$58.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Wolfe Research raised Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 18th. Jefferies Financial Group raised their price target on Canadian Natural Resources from C$49.00 to C$57.00 in a research report on Friday, October 11th. Finally, BMO Capital Markets upped their price objective on Canadian Natural Resources from C$57.50 to C$60.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$74.13.

Canadian Natural Resources Trading Up 0.7 %

Canadian Natural Resources stock opened at C$49.40 on Monday. The company has a debt-to-equity ratio of 29.64, a quick ratio of 0.54 and a current ratio of 0.88. Canadian Natural Resources has a fifty-two week low of C$40.02 and a fifty-two week high of C$56.49. The stock has a market cap of C$105.22 billion, a P/E ratio of 14.07, a PEG ratio of 0.53 and a beta of 1.89. The firm’s fifty day moving average price is C$47.57 and its 200-day moving average price is C$67.49.

Canadian Natural Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.10 annualized dividend and a yield of 4.25%. Canadian Natural Resources’s payout ratio is 60.97%.

Insiders Place Their Bets

In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of Canadian Natural Resources stock in a transaction dated Monday, October 7th. The shares were sold at an average price of C$49.04, for a total transaction of C$183,900.00. In other news, Senior Officer Trevor Wagil sold 4,272 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of C$47.51, for a total value of C$202,966.99. Also, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of C$49.04, for a total value of C$183,900.00. 4.26% of the stock is owned by corporate insiders.

About Canadian Natural Resources

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).