Brokers Offer Predictions for Cameco FY2024 Earnings

Cameco Co. (TSE:CCO) (NYSE:CCJ) – Equities researchers at National Bank Financial raised their FY2024 EPS estimates for shares of Cameco in a research note issued on Monday, January 27th. National Bank Financial analyst M. Sidibe now forecasts that the company will post earnings per share of $0.73 for the year, up from their prior estimate of $0.69. National Bank Financial also issued estimates for Cameco’s FY2026 earnings at $1.75 EPS.

Cameco (TSE:CCO) (NYSE:CCJ) last released its quarterly earnings results on Thursday, November 7th. The company reported C($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.23 by C($0.24). Cameco had a net margin of 9.70% and a return on equity of 4.23%. During the same quarter in the prior year, the firm earned $0.32 EPS.

Several other equities analysts have also recently commented on CCO. Scotiabank upped their target price on shares of Cameco from C$80.00 to C$86.00 in a research note on Tuesday, November 19th. Royal Bank of Canada raised their target price on Cameco from C$75.00 to C$90.00 in a research report on Thursday, November 21st. BMO Capital Markets boosted their price target on shares of Cameco from C$78.00 to C$84.00 in a report on Friday, November 8th. Eight Capital raised their price objective on shares of Cameco from C$80.00 to C$90.00 in a report on Friday, November 8th. Finally, Raymond James upped their target price on shares of Cameco from C$81.00 to C$88.00 in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cameco currently has an average rating of “Buy” and an average target price of C$84.30.

Cameco Stock Performance

CCO opened at C$72.25 on Wednesday. The company has a quick ratio of 3.74, a current ratio of 3.22 and a debt-to-equity ratio of 25.39. The stock’s 50 day moving average price is C$77.53 and its two-hundred day moving average price is C$68.78. The firm has a market capitalization of C$31.44 billion, a P/E ratio of 122.46, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90. Cameco has a 12-month low of C$48.71 and a 12-month high of C$88.18.

Insider Activity at Cameco

In other Cameco news, Senior Officer Tim Scott Gitzel sold 50,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of C$85.66, for a total value of C$4,283,000.00. Also, Senior Officer Lisa Lorene Aitken sold 2,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of C$75.19, for a total transaction of C$150,380.00. Insiders sold 80,962 shares of company stock valued at $6,800,456 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Cameco Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a dividend yield of 0.22%. This is a boost from Cameco’s previous annual dividend of $0.12. Cameco’s payout ratio is 20.34%.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.