Zacks Research Analysts Lower Earnings Estimates for Canadian Natural Resources Limited (TSE:CNQ)

Canadian Natural Resources Limited (TSE:CNQ - Free Report) NYSE: CNQ - Analysts at Zacks Research lowered their FY2024 EPS estimates for Canadian Natural Resources in a note issued to investors on Thursday, September 19th. Zacks Research analyst T. Saha now anticipates that the company will earn $3.34 per share for the year, down from their prior estimate 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 - Get Free Report) NYSE: CNQ last announced its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, beating analysts' consensus estimates of C$0.84 by C$0.04. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%. The business had revenue of C$9.05 billion during the quarter, compared to analysts' expectations of C$8.41 billion.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada reduced their price target on shares of Canadian Natural Resources from C$62.00 to C$59.00 in a research report on Tuesday, September 17th. TD Securities increased their target price on shares of Canadian Natural Resources from C$49.00 to C$60.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Raymond James dropped their price target on shares of Canadian Natural Resources from C$97.00 to C$49.00 and set a "market perform" rating for the company in a research note on Wednesday, June 12th. Wolfe Research upgraded Canadian Natural Resources to a "hold" rating in a research note on Thursday, July 18th. Finally, Desjardins lifted their target price on Canadian Natural Resources from C$55.00 to C$56.00 and gave the company a "hold" rating in a report on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of C$90.31.

Canadian Natural Resources Trading Up 0.9 %

CNQ traded up C$0.42 during mid-day trading on Monday, hitting C$45.67. 16,730,672 shares of the stock were exchanged, compared to its average volume of 12,506,263. The firm's fifty day moving average is C$47.42 and its two-hundred day moving average is C$74.49. Canadian Natural Resources has a 1-year low of C$40.02 and a 1-year high of C$56.49. The company has a market cap of C$97.28 billion, a PE ratio of 13.01, a PEG ratio of 0.53 and a beta of 1.91. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 29.64.

Canadian Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Friday, September 13th. Canadian Natural Resources's dividend payout ratio (DPR) 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).