What is Zacks Research’s Estimate for Ovintiv Q3 Earnings?

Ovintiv Inc. (TSE:OVV) – Equities researchers at Zacks Research lowered their Q3 2024 EPS estimates for Ovintiv in a report issued on Tuesday, October 22nd. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of $1.36 for the quarter, down from their prior estimate of $1.52. The consensus estimate for Ovintiv’s current full-year earnings is $5.66 per share. Zacks Research also issued estimates for Ovintiv’s Q4 2024 earnings at $1.24 EPS, FY2024 earnings at $6.28 EPS and Q3 2026 earnings at $1.48 EPS.

Ovintiv (TSE:OVV) last issued its quarterly earnings results on Tuesday, July 30th. The company reported C$1.69 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.67 by C$0.02. The company had revenue of C$3.13 billion for the quarter, compared to analyst estimates of C$3.46 billion. Ovintiv had a return on equity of 19.75% and a net margin of 18.84%.

Several other research analysts have also weighed in on OVV. Siebert Williams Shank upgraded shares of Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. Wolfe Research raised shares of Ovintiv to a “strong-buy” rating in a research note on Thursday, July 18th. Finally, Evercore ISI raised shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a hold rating, one has assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$58.50.

Ovintiv Stock Performance

TSE OVV opened at C$56.12 on Friday. The business’s 50-day moving average price is C$56.23 and its 200 day moving average price is C$62.83. The company has a current ratio of 0.44, a quick ratio of 0.51 and a debt-to-equity ratio of 67.70. Ovintiv has a twelve month low of C$49.74 and a twelve month high of C$76.63. The company has a market capitalization of C$14.79 billion, a PE ratio of 5.73, a price-to-earnings-growth ratio of 0.05 and a beta of 2.63.

Ovintiv Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were issued a $0.41 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.64 annualized dividend and a yield of 2.92%. Ovintiv’s payout ratio is 16.58%.

About Ovintiv

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.