Scotiabank Estimates Cameco's FY2024 Earnings (NYSE:CCJ)

Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO - Investment analysts at Scotiabank cut their FY2024 earnings per share (EPS) estimates for shares of Cameco in a research note issued on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now forecasts that the basic materials company will post earnings per share of $0.40 for the year, down from their previous forecast of $0.57. The consensus estimate for Cameco's current full-year earnings is $0.51 per share. Scotiabank also issued estimates for Cameco's FY2026 earnings at $1.07 EPS.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The business had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. During the same quarter last year, the business earned $0.24 EPS. Cameco's revenue for the quarter was up 25.4% compared to the same quarter last year.

Separately, Janney Montgomery Scott raised Cameco to a "strong-buy" rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $66.56.

Cameco Stock Down 4.2 %

Shares of NYSE:CCJ opened at $49.20 on Monday. The company has a 50-day moving average price of $54.75 and a 200 day moving average price of $49.25. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. Cameco has a 12 month low of $35.43 and a 12 month high of $62.55. The company has a market cap of $21.41 billion, a price-to-earnings ratio of 258.96 and a beta of 0.95.

Cameco Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were given a $0.118 dividend. This is a positive change from Cameco's previous annual dividend of $0.09. This represents a yield of 0.22%. The ex-dividend date of this dividend was Wednesday, November 27th. Cameco's dividend payout ratio is 63.16%.

Institutional Investors Weigh In On Cameco

Several hedge funds and other institutional investors have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. increased its stake in Cameco by 71.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company's stock worth $27,000 after purchasing an additional 238 shares during the period. Pingora Partners LLC purchased a new stake in shares of Cameco during the third quarter valued at $33,000. First Horizon Advisors Inc. grew its holdings in shares of 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 purchasing an additional 351 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Cameco in the 3rd quarter worth about $38,000. Finally, JFS Wealth Advisors LLC lifted its holdings in Cameco by 130.6% during the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company's stock valued at $46,000 after buying an additional 550 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.