Brokers Set Expectations for Canadian Natural Resources Limited’s FY2024 Earnings (TSE:CNQ)

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Research analysts at Zacks Research cut their FY2024 earnings per share (EPS) estimates for shares of Canadian Natural Resources in a research report issued on Thursday, September 19th. Zacks Research analyst T. Saha now forecasts that the company will post earnings of $3.34 per share for the year, down from their previous forecast of $3.36. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $3.56 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q4 2024 earnings at $0.93 EPS, Q2 2025 earnings at $1.14 EPS, Q3 2025 earnings at $0.87 EPS, Q4 2025 earnings at $0.81 EPS, FY2025 earnings at $3.93 EPS, Q1 2026 earnings at $0.96 EPS, Q2 2026 earnings at $0.66 EPS and FY2026 earnings at $3.35 EPS.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, beating the consensus estimate of C$0.84 by C$0.04. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. The business had revenue of C$9.05 billion for the quarter, compared to analysts’ expectations of C$8.41 billion.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada cut their target price on Canadian Natural Resources from C$62.00 to C$59.00 in a research note on Tuesday, September 17th. Wolfe Research upgraded Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 18th. Raymond James cut their target price on Canadian Natural Resources from C$97.00 to C$49.00 and set a “market perform” rating on the stock in a research note on Wednesday, June 12th. Jefferies Financial Group cut their target price on Canadian Natural Resources from C$52.00 to C$49.00 and set a “hold” rating on the stock in a research note on Monday, September 16th. Finally, Desjardins boosted their target price on Canadian Natural Resources from C$55.00 to C$56.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$90.31.

Canadian Natural Resources Trading Up 1.9 %

TSE:CNQ opened at C$46.52 on Monday. Canadian Natural Resources has a fifty-two week low of C$40.02 and a fifty-two week high of C$56.49. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54. The stock has a market capitalization of C$99.09 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.53 and a beta of 1.91. The business’s 50-day simple moving average is C$47.34 and its 200-day simple moving average is C$74.14.

Canadian Natural Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date is Friday, September 13th. Canadian Natural Resources’s payout ratio is presently 59.26%.

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).