Scotiabank Has Pessimistic View of Shell FY2024 Earnings

Shell plc (NYSE:SHEL) – Research analysts at Scotiabank lowered their FY2024 earnings per share (EPS) estimates for shares of Shell in a note issued to investors on Wednesday, January 8th. Scotiabank analyst P. Cheng now expects that the energy company will earn $7.80 per share for the year, down from their previous forecast of $8.80. Scotiabank has a “Sector Outperform” rating and a $80.00 price target 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.

SHEL has been the subject of several other reports. Sanford C. Bernstein upgraded shares of Shell to a “strong-buy” rating in a research note on Friday, October 11th. Wolfe Research raised shares of Shell from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Friday, January 3rd. Piper Sandler lowered their price target on Shell from $82.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Morgan Stanley upgraded Shell from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $66.50 to $79.80 in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company lowered their price objective on Shell from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $79.69.

Shell Stock Up 1.6 %

Shares of SHEL stock opened at $66.01 on Monday. The stock has a 50 day moving average of $64.28 and a 200-day moving average of $67.92. The firm has a market cap of $203.13 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 4.84 and a beta of 0.55. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. Shell has a 12 month low of $60.15 and a 12 month high of $74.61.

Hedge Funds Weigh In On Shell

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fairscale Capital LLC acquired a new stake in shares of Shell in the second quarter valued at $33,000. Fortitude Family Office LLC bought a new stake in Shell during the 3rd quarter worth about $30,000. Valley Wealth Managers Inc. acquired a new stake in Shell in the 3rd quarter valued at about $33,000. Brooklyn Investment Group acquired a new position in shares of Shell during the third quarter worth approximately $35,000. Finally, GHP Investment Advisors Inc. grew its stake in shares of Shell by 40.8% during the third quarter. GHP Investment Advisors Inc. now owns 563 shares of the energy company’s stock valued at $37,000 after purchasing an additional 163 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors and hedge funds.

Shell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 15th were paid a dividend of $0.688 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.75 annualized dividend and a yield of 4.17%. Shell’s dividend 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.