Zacks Research Forecasts Stronger Earnings for Imperial Oil

Imperial Oil Limited (TSE:IMO - Free Report) NYSEMKT: IMO - Zacks Research boosted their FY2024 EPS estimates for shares of Imperial Oil in a research report issued on Thursday, January 23rd. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $8.47 for the year, up from their previous estimate of $8.44. The consensus estimate for Imperial Oil's current full-year earnings is $8.62 per share. Zacks Research also issued estimates for Imperial Oil's Q4 2024 earnings at $1.80 EPS, Q2 2025 earnings at $1.39 EPS, Q4 2025 earnings at $1.74 EPS, Q3 2026 earnings at $1.49 EPS and FY2026 earnings at $7.92 EPS.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last announced its earnings results on Friday, November 1st. The company reported C$2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.02 by C$0.31. Imperial Oil had a return on equity of 22.17% and a net margin of 10.09%. During the same quarter last year, the firm earned $2.76 earnings per share.

Other analysts have also issued reports about the stock. TD Securities boosted their target price on shares of Imperial Oil from C$93.00 to C$96.00 and gave the company a "hold" rating in a research note on Friday, December 13th. Royal Bank of Canada upped their target price on shares of Imperial Oil from C$99.00 to C$101.00 in a research note on Wednesday, November 6th. CIBC raised their target price on shares of Imperial Oil from C$105.00 to C$108.00 in a research report on Friday, January 17th. National Bankshares lowered their price target on Imperial Oil from C$115.00 to C$112.00 in a report on Friday, September 27th. Finally, Wolfe Research downgraded Imperial Oil from a "strong-buy" rating to a "hold" rating in a report on Friday, January 3rd. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of C$104.20.

Imperial Oil Trading Down 2.3 %

IMO traded down C$2.33 during trading hours on Friday, reaching C$100.75. 531,356 shares of the company's stock traded hands, compared to its average volume of 949,509. The firm has a 50-day moving average price of C$97.90 and a 200 day moving average price of C$98.67. The firm has a market capitalization of C$53.99 billion, a PE ratio of 10.56, a PEG ratio of 0.21 and a beta of 1.78. The company has a quick ratio of 0.98, a current ratio of 1.40 and a debt-to-equity ratio of 18.27. Imperial Oil has a 52-week low of C$75.33 and a 52-week high of C$108.89.

Insider Activity at Imperial Oil

In other Imperial Oil news, Director Bradley William Corson purchased 4,800 shares of Imperial Oil stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of C$97.44 per share, with a total value of C$467,713.92. 71.26% of the stock is owned by corporate insiders.

Imperial Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Wednesday, January 1st were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Tuesday, December 3rd. Imperial Oil's dividend payout ratio (DPR) is currently 25.16%.

About Imperial Oil

Imperial Oil is one of Canada's largest integrated oil companies, focusing on upstream operations, petroleum refining operations, and the marketing of petroleum products. Production averaged 398 thousand barrels of oil equivalent per day in 2020. The company estimates that it holds 5.2 billion boe of proved and probable crude oil and natural gas reserves.