Cameco (NYSE:CCJ) Shares Down 1.6% on Disappointing Earnings

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO dropped 1.6% on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $52.44 and last traded at $52.72. Approximately 1,034,676 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 4,398,678 shares. The stock had previously closed at $53.58.

The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The firm had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. During the same quarter in the previous year, the company earned $0.24 EPS. The company's quarterly revenue was up 25.4% compared to the same quarter last year.

Cameco Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a $0.118 dividend. This is an increase from Cameco's previous annual dividend of $0.09. This represents a yield of 0.22%. The ex-dividend date is Wednesday, November 27th. Cameco's payout ratio is presently 18.60%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CCJ. Glj Research restated a "buy" rating and set a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. National Bank Financial raised shares of Cameco to a "strong-buy" rating in a report on Tuesday, September 3rd. Scotiabank cut their price objective on shares of Cameco from $81.00 to $80.00 and set an "outperform" rating on the stock in a research report on Monday, August 19th. Cantor Fitzgerald upgraded shares of Cameco from a "neutral" rating to an "overweight" rating in a research report on Wednesday, July 31st. Finally, Janney Montgomery Scott raised Cameco to a "strong-buy" rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $66.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. raised its position in Cameco by 84.2% in the third quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company's stock worth $37,000 after acquiring an additional 351 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Cameco by 2.5% in the 3rd quarter. Jennison Associates LLC now owns 766,202 shares of the basic materials company's stock worth $36,594,000 after purchasing an additional 18,741 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Cameco by 1.2% during the third quarter. PNC Financial Services Group Inc. now owns 154,972 shares of the basic materials company's stock valued at $7,401,000 after purchasing an additional 1,830 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co boosted its holdings in Cameco by 41.9% during the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 224,045 shares of the basic materials company's stock worth $10,700,000 after buying an additional 66,144 shares in the last quarter. Finally, Prospera Financial Services Inc grew its position in Cameco by 2.5% in the third quarter. Prospera Financial Services Inc now owns 50,086 shares of the basic materials company's stock worth $2,392,000 after buying an additional 1,205 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors.

Cameco Price Performance

The company has a fifty day simple moving average of $48.27 and a 200-day simple moving average of $48.18. The company has a market cap of $22.86 billion, a P/E ratio of 122.19 and a beta of 0.89. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.