What is Scotiabank’s Forecast for Shell FY2024 Earnings?

Shell plc (NYSE:SHEL) – Equities research analysts at Scotiabank lowered their FY2024 earnings estimates for Shell in a report issued on Wednesday, January 8th. Scotiabank analyst P. Cheng now expects that the energy company will post earnings per share of $7.80 for the year, down from their previous estimate of $8.80. Scotiabank currently has a “Sector Outperform” rating and a $80.00 target price 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 equities analysts have also weighed in on SHEL. Barclays upgraded shares of Shell to a “strong-buy” rating in a report on Wednesday, October 2nd. Citigroup upgraded Shell to a “hold” rating in a research report on Wednesday, October 2nd. Piper Sandler dropped their price objective on Shell from $82.00 to $72.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Wolfe Research upgraded Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Friday, January 3rd. Finally, Wells Fargo & Company cut their price target on shares of Shell from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $79.69.

Shell Price Performance

SHEL opened at $65.02 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 1.13. The company’s 50 day simple moving average is $64.38 and its 200-day simple moving average is $68.03. Shell has a one year low of $60.15 and a one year high of $74.61. The stock has a market capitalization of $200.08 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 4.84 and a beta of 0.55.

Institutional Investors Weigh In On Shell

A number of large investors have recently added to or reduced their stakes in SHEL. Coronation Fund Managers Ltd. boosted its stake in Shell by 7.6% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 15,201 shares of the energy company’s stock valued at $1,097,000 after purchasing an additional 1,068 shares during the period. Rhumbline Advisers grew its stake in shares of Shell by 9.8% in the second quarter. Rhumbline Advisers now owns 35,107 shares of the energy company’s stock valued at $2,534,000 after acquiring an additional 3,143 shares in the last quarter. LPL Financial LLC raised its stake in Shell by 8.0% in the 2nd quarter. LPL Financial LLC now owns 743,891 shares of the energy company’s stock worth $53,694,000 after purchasing an additional 55,297 shares in the last quarter. American Century Companies Inc. boosted its holdings in Shell by 7.3% in the 2nd quarter. American Century Companies Inc. now owns 787,069 shares of the energy company’s stock valued at $56,811,000 after purchasing an additional 53,209 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Shell by 20.2% during the second quarter. Oppenheimer & Co. Inc. now owns 60,006 shares of the energy company’s stock worth $4,331,000 after purchasing an additional 10,066 shares during the period. Institutional investors own 28.60% of the company’s stock.

Shell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 15th were issued a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date was Friday, November 15th. Shell’s payout ratio is currently 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.