Brokers Set Expectations for Canadian Natural Resources Limited’s FY2024 Earnings (TSE:CNQ)

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Equities researchers at Zacks Research cut their FY2024 EPS estimates for Canadian Natural Resources in a research note issued to investors on Thursday, September 19th. Zacks Research analyst T. Saha now anticipates that the company will post earnings of $3.34 per share for the year, down from their prior forecast 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) (NYSE:CNQ) last issued its earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of C$8.41 billion.

Several other research analysts have also issued reports on the company. Raymond James dropped their price objective on 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. TD Securities boosted their price target on shares of Canadian Natural Resources from C$49.00 to C$60.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada dropped their price objective on shares of Canadian Natural Resources from C$62.00 to C$59.00 in a report on Tuesday, September 17th. Scotiabank reduced their target price on Canadian Natural Resources from C$114.00 to C$57.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 11th. Finally, Wolfe Research upgraded shares of Canadian Natural Resources to a “hold” rating in a research report on Thursday, July 18th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$90.31.

Canadian Natural Resources Stock Down 1.2 %

TSE CNQ opened at C$45.25 on Monday. 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 current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 29.64. The stock’s 50 day moving average is C$47.49 and its two-hundred day moving average is C$74.86. The company has a market capitalization of C$96.38 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 0.53 and a beta of 1.91.

Canadian Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio is currently 59.26%.

Canadian Natural Resources Company Profile

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).