Canadian Natural Resources Limited (TSE:CNQ) Expected to Earn FY2024 Earnings of $3.60 Per Share

Canadian Natural Resources Limited (TSE:CNQFree Report) (NYSE:CNQ) – Equities research analysts at Raymond James issued their FY2024 earnings per share estimates for Canadian Natural Resources in a research report issued to clients and investors on Wednesday, June 12th. Raymond James analyst M. Barth expects that the company will post earnings of $3.60 per share for the year. Raymond James currently has a “Market Perform” rating and a $49.00 price target on the stock. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $6.86 per share. Raymond James also issued estimates for Canadian Natural Resources’ FY2025 earnings at $4.20 EPS, FY2026 earnings at $3.89 EPS, FY2027 earnings at $4.09 EPS and FY2028 earnings at $3.99 EPS.

A number of other brokerages also recently commented on CNQ. Jefferies Financial Group boosted their price objective on shares of Canadian Natural Resources from C$86.00 to C$110.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. ATB Capital upped their price target on Canadian Natural Resources from C$100.00 to C$107.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Scotiabank reduced their price target on Canadian Natural Resources from C$114.00 to C$57.00 and set a “sector perform” rating on the stock in a research report on Tuesday, June 11th. CIBC upped their price target on Canadian Natural Resources from C$105.00 to C$115.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Finally, Evercore upped their price target on Canadian Natural Resources from C$105.00 to C$115.00 in a research report on Monday, April 8th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$104.88.

Check Out Our Latest Stock Analysis on CNQ

Canadian Natural Resources Stock Performance

Shares of TSE:CNQ opened at C$46.62 on Friday. The company has a market capitalization of C$49.88 billion, a price-to-earnings ratio of 6.84, a price-to-earnings-growth ratio of 0.53 and a beta of 1.97. Canadian Natural Resources has a 52 week low of C$34.92 and a 52 week high of C$56.49. The company has a quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 31.83. The firm has a 50 day moving average of C$99.99 and a 200 day moving average of C$93.68.

Canadian Natural Resources (TSE:CNQGet Free Report) (NYSE:CNQ) last issued its quarterly earnings data on Thursday, May 2nd. The company reported C$1.37 EPS for the quarter, missing analysts’ consensus estimates of C$1.40 by C($0.03). The business had revenue of C$8.24 billion during the quarter, compared to the consensus estimate of C$8.17 billion. Canadian Natural Resources had a return on equity of 19.01% and a net margin of 20.86%.

Canadian Natural Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 9.01%. The ex-dividend date of this dividend is Monday, June 17th. Canadian Natural Resources’s payout ratio is 58.65%.

Insider Activity at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Warren Paul Raczynski sold 3,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of C$110.81, for a total value of C$332,430.00. In other Canadian Natural Resources news, Senior Officer Warren Paul Raczynski sold 3,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of C$110.81, for a total value of C$332,430.00. Also, Senior Officer Devin Craig Lowe sold 3,750 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of C$100.29, for a total transaction of C$376,087.50. Insiders have sold a total of 55,917 shares of company stock valued at $5,411,630 in the last ninety days. Company insiders own 2.21% of the company’s stock.

About Canadian Natural Resources

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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).

Further Reading

Earnings History and Estimates for Canadian Natural Resources (TSE:CNQ)

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