Brokers Offer Predictions for Imperial Oil Limited’s FY2024 Earnings (NYSEAMERICAN:IMO)

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) – Stock analysts at Zacks Research upped their FY2024 earnings estimates for shares of Imperial Oil in a research report issued to clients and investors on Thursday, September 12th. Zacks Research analyst R. Department now anticipates that the energy company will earn $6.08 per share for the year, up from their previous estimate of $6.03. The consensus estimate for Imperial Oil’s current full-year earnings is $6.29 per share. Zacks Research also issued estimates for Imperial Oil’s Q1 2025 earnings at $1.52 EPS, Q2 2025 earnings at $1.70 EPS, Q3 2025 earnings at $1.52 EPS, Q1 2026 earnings at $1.75 EPS, Q2 2026 earnings at $1.52 EPS and FY2026 earnings at $5.84 EPS.

Several other equities research analysts have also issued reports on IMO. Raymond James raised Imperial Oil to a “hold” rating in a research report on Tuesday, May 28th. Wolfe Research began coverage on Imperial Oil in a research note on Thursday, July 18th. They issued an “outperform” rating and a $108.00 price target on the stock. StockNews.com cut Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Scotiabank lowered their price target on Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $99.50.

Imperial Oil Price Performance

IMO stock opened at $66.28 on Friday. Imperial Oil has a 12 month low of $52.97 and a 12 month high of $77.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.40 and a quick ratio of 1.16. The stock has a market capitalization of $35.03 billion, a PE ratio of 10.39 and a beta of 1.45.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its quarterly earnings results on Friday, August 2nd. The energy company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.43 by $0.11. Imperial Oil had a net margin of 10.05% and a return on equity of 22.73%. The company had revenue of $9.78 billion during the quarter, compared to analysts’ expectations of $10.50 billion.

Imperial Oil Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Wednesday, September 4th will be issued a $0.4336 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.73 dividend on an annualized basis and a yield of 2.62%. Imperial Oil’s dividend payout ratio (DPR) is presently 27.90%.

Hedge Funds Weigh In On Imperial Oil

Several institutional investors have recently added to or reduced their stakes in IMO. Natixis Advisors L.P. boosted its position in Imperial Oil by 3.3% during the 4th quarter. Natixis Advisors L.P. now owns 12,894 shares of the energy company’s stock worth $737,000 after purchasing an additional 409 shares during the period. Principal Securities Inc. purchased a new position in shares of Imperial Oil during the 4th quarter valued at $368,000. Massachusetts Financial Services Co. MA lifted its position in Imperial Oil by 4.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 113,018 shares of the energy company’s stock worth $6,463,000 after acquiring an additional 4,610 shares during the last quarter. Assetmark Inc. increased its stake in Imperial Oil by 938.5% in the fourth quarter. Assetmark Inc. now owns 810 shares of the energy company’s stock valued at $46,000 after acquiring an additional 732 shares during the period. Finally, Ontario Teachers Pension Plan Board increased its holdings in shares of Imperial Oil by 14.8% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 38,988 shares of the energy company’s stock valued at $2,221,000 after purchasing an additional 5,021 shares in the last quarter. Institutional investors and hedge funds own 20.74% of the company’s stock.

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 and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.