Zacks Research Weighs in on Canadian Natural Resources Limited’s FY2024 Earnings (TSE:CNQ)

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Research analysts at Zacks Research issued their FY2024 EPS estimates for shares of Canadian Natural Resources in a research report issued on Wednesday, September 11th. Zacks Research analyst T. Saha expects that the company will post earnings per share of $3.36 for the year. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $4.23 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q4 2025 earnings at $0.93 EPS, Q2 2026 earnings at $0.74 EPS and FY2026 earnings at $3.51 EPS.

Other analysts have also recently issued reports about the stock. Desjardins increased their target price on shares of Canadian Natural Resources from C$55.00 to C$56.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Jefferies Financial Group decreased their price objective on Canadian Natural Resources from C$110.00 to C$55.00 and set a “hold” rating for the company in a report on Monday, July 15th. Royal Bank of Canada lifted their target price on Canadian Natural Resources from C$60.00 to C$62.00 in a research note on Friday, August 2nd. TD Securities increased their price target on Canadian Natural Resources from C$49.00 to C$60.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Scotiabank cut their price objective on shares of Canadian Natural Resources from C$114.00 to C$57.00 and set a “sector perform” rating on the stock in a research note on Tuesday, June 11th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$90.88.

Canadian Natural Resources Trading Down 0.9 %

Shares of CNQ opened at C$43.40 on Friday. 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 one year low of C$40.02 and a one year high of C$56.49. The stock has a 50-day moving average price of C$47.91 and a 200 day moving average price of C$76.71. The company has a market capitalization of C$92.44 billion, a P/E ratio of 12.33, a P/E/G ratio of 0.53 and a beta of 1.91.

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 (EPS) for the quarter, beating the consensus estimate of C$0.84 by C$0.04. The firm had revenue of C$9.05 billion during the quarter, compared to the consensus estimate of C$8.41 billion. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%.

Insider Activity

In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 3,750 shares of Canadian Natural Resources stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$48.43, for a total transaction of C$181,612.50. Corporate insiders own 4.24% of the company’s stock.

Canadian Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 59.09%.

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).