Scotiabank Has Bearish Outlook for Shell FY2024 Earnings

Shell plc (NYSE:SHEL - Free Report) - Research analysts at Scotiabank decreased their FY2024 EPS estimates for shares of Shell in a research note issued on Wednesday, January 8th. Scotiabank analyst P. Cheng now expects that the energy company will post earnings of $7.80 per share for the year, down from their prior estimate of $8.80. Scotiabank currently has a "Sector Outperform" rating and a $80.00 price target on the stock. The consensus estimate for Shell's current full-year earnings is $8.52 per share. Scotiabank also issued estimates for Shell's FY2025 earnings at $7.85 EPS.

Several other research analysts also recently weighed in on SHEL. UBS Group upgraded Shell from a "neutral" rating to a "buy" rating in a research note on Wednesday, January 8th. Piper Sandler cut their target price on shares of Shell from $82.00 to $72.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Morgan Stanley upgraded shares of Shell from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $66.50 to $79.80 in a research note on Tuesday, January 7th. Wells Fargo & Company cut their price objective on Shell from $87.00 to $86.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Barclays raised Shell to a "strong-buy" rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $79.69.

Shell Price Performance

Shares of Shell stock opened at $65.02 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. Shell has a 52 week low of $60.15 and a 52 week high of $74.61. The stock's 50-day simple moving average is $64.38 and its 200-day simple moving average is $68.01. The company has a market capitalization of $200.08 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 4.84 and a beta of 0.55.

Institutional Investors Weigh In On Shell

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in Shell by 5.2% in the 3rd quarter. FMR LLC now owns 65,298,943 shares of the energy company's stock worth $4,306,465,000 after purchasing an additional 3,255,347 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Shell by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 24,530,647 shares of the energy company's stock worth $1,617,796,000 after acquiring an additional 507,311 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Shell by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,722,317 shares of the energy company's stock valued at $1,640,082,000 after acquiring an additional 96,549 shares during the last quarter. Franklin Resources Inc. increased its stake in Shell by 0.9% in the third quarter. Franklin Resources Inc. now owns 5,972,945 shares of the energy company's stock worth $408,430,000 after purchasing an additional 55,637 shares during the period. Finally, Mawer Investment Management Ltd. boosted its stake in shares of Shell by 8.7% during the third quarter. Mawer Investment Management Ltd. now owns 5,282,868 shares of the energy company's stock valued at $348,405,000 after purchasing an additional 422,329 shares during the period. Hedge funds and other institutional investors own 28.60% of the company's stock.

Shell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 15th were given a $0.688 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.75 dividend on an annualized basis and a yield of 4.23%. Shell's dividend payout ratio is presently 56.58%.

Shell Company Profile

Shell plc operates as an energy and petrochemical company Europe, Asia, Oceania, Africa, the United States, and Rest of the Americas. The company operates through Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions segments. It explores for and extracts crude oil, natural gas, and natural gas liquids; markets and transports oil and gas; produces gas-to-liquids fuels and other products; and operates upstream and midstream infrastructure to deliver gas to market.