Q3 2024 EPS Estimates for Imperial Oil Limited Increased by Analyst (NYSEAMERICAN:IMO)

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) – Equities researchers at Zacks Research lifted their Q3 2024 earnings per share (EPS) estimates for shares of Imperial Oil in a research note issued on Monday, September 23rd. Zacks Research analyst R. Department now forecasts that the energy company will post earnings per share of $1.44 for the quarter, up from their previous estimate of $1.43. The consensus estimate for Imperial Oil’s current full-year earnings is $6.20 per share. Zacks Research also issued estimates for Imperial Oil’s Q4 2024 earnings at $1.47 EPS, FY2024 earnings at $6.09 EPS, Q1 2025 earnings at $1.32 EPS and FY2026 earnings at $6.10 EPS.

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

Other research analysts have also issued research reports about the company. Wolfe Research initiated coverage on Imperial Oil in a research report on Thursday, July 18th. They set an “outperform” rating and a $108.00 price objective for the company. StockNews.com downgraded Imperial Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Scotiabank reiterated a “sector perform” rating and set a $110.00 target price on shares of Imperial Oil in a research report on Wednesday. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $99.50.

Imperial Oil Trading Down 2.3 %

Shares of NYSEAMERICAN IMO opened at $68.68 on Wednesday. The firm has a market capitalization of $36.29 billion, a price-to-earnings ratio of 10.76 and a beta of 1.45. Imperial Oil has a 52-week low of $52.97 and a 52-week high of $77.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.40.

Hedge Funds Weigh In On Imperial Oil

Several large investors have recently modified their holdings of the stock. Manning & Napier Advisors LLC purchased a new stake in Imperial Oil in the 2nd quarter worth about $3,064,000. US Bancorp DE lifted its stake in shares of Imperial Oil by 91.6% during the 1st quarter. US Bancorp DE now owns 20,210 shares of the energy company’s stock worth $1,397,000 after acquiring an additional 9,660 shares during the last quarter. Intech Investment Management LLC purchased a new position in Imperial Oil during the 1st quarter valued at $720,000. Fiera Capital Corp grew its position in Imperial Oil by 262.5% in the 2nd quarter. Fiera Capital Corp now owns 95,455 shares of the energy company’s stock valued at $6,511,000 after acquiring an additional 69,121 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in Imperial Oil by 1,250.9% in the first quarter. Bessemer Group Inc. now owns 7,849 shares of the energy company’s stock worth $542,000 after purchasing an additional 7,268 shares during the period. Institutional investors own 20.74% of the company’s stock.

Imperial Oil Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Wednesday, September 4th will be paid a $0.4336 dividend. This represents a $1.73 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Wednesday, September 4th. Imperial Oil’s payout ratio is 27.90%.

Imperial Oil Company Profile

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.