Equinor ASA (NYSE:EQNR) Releases Earnings Results, Beats Expectations By $0.05 EPS

Equinor ASA (NYSE:EQNR) issued its earnings results on Thursday. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05, Zacks reports. The business had revenue of $25.45 billion during the quarter, compared to analysts’ expectations of $24.45 billion. Equinor ASA had a return on equity of 20.65% and a net margin of 9.11%. During the same quarter in the previous year, the business earned $0.92 EPS.

Equinor ASA Stock Up 2.4 %

Shares of EQNR traded up $0.60 during trading on Friday, reaching $25.69. The company’s stock had a trading volume of 1,811,069 shares, compared to its average volume of 3,243,598. The company has a fifty day moving average of $25.66 and a two-hundred day moving average of $26.92. Equinor ASA has a twelve month low of $23.95 and a twelve month high of $34.21. The company has a market cap of $75.65 billion, a price-to-earnings ratio of 7.93, a P/E/G ratio of 2.28 and a beta of 0.83. The company has a quick ratio of 1.43, a current ratio of 1.53 and a debt-to-equity ratio of 0.53.

Wall Street Analysts Forecast Growth

EQNR has been the topic of several recent research reports. Morgan Stanley raised Equinor ASA from an “underweight” rating to an “equal weight” rating and set a $25.80 price target on the stock in a research report on Monday, October 14th. TD Cowen reduced their price target on Equinor ASA from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, July 10th. Citigroup raised Equinor ASA to a “strong sell” rating in a research report on Wednesday, October 2nd. StockNews.com lowered Equinor ASA from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 29th. Finally, UBS Group raised Equinor ASA from a “sell” rating to a “neutral” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.90.

About Equinor ASA

Equinor ASA, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and other forms of energy in Norway and internationally. It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; Renewables; and Other segments.