Zacks Research Raises Earnings Estimates for Imperial Oil

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) – Analysts at Zacks Research raised their FY2024 earnings estimates for Imperial Oil in a report released on Thursday, January 23rd. Zacks Research analyst R. Department now anticipates that the company will earn $8.47 per share for the year, up from their prior forecast of $8.44. The consensus estimate for Imperial Oil’s current full-year earnings is $8.62 per share. Zacks Research also issued estimates for Imperial Oil’s Q4 2024 earnings at $1.80 EPS, Q2 2025 earnings at $1.39 EPS, Q4 2025 earnings at $1.74 EPS, Q3 2026 earnings at $1.49 EPS and FY2026 earnings at $7.92 EPS.

A number of other research analysts have also recently weighed in on the stock. TD Securities lifted their price objective on shares of Imperial Oil from C$93.00 to C$96.00 and gave the company a “hold” rating in a report on Friday, December 13th. BMO Capital Markets lifted their price target on Imperial Oil from C$115.00 to C$120.00 in a research note on Friday, October 4th. JPMorgan Chase & Co. increased their price target on Imperial Oil from C$97.00 to C$100.00 in a research report on Wednesday, November 13th. National Bankshares cut their price objective on Imperial Oil from C$115.00 to C$112.00 in a research report on Friday, September 27th. Finally, Wolfe Research lowered Imperial Oil from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 3rd. Ten analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$104.20.

Imperial Oil Trading Up 1.1 %

Shares of TSE:IMO opened at C$103.08 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.98 and a debt-to-equity ratio of 18.27. Imperial Oil has a 12-month low of C$73.81 and a 12-month high of C$108.89. The business has a 50 day moving average of C$97.88 and a two-hundred day moving average of C$98.62. The company has a market capitalization of C$55.23 billion, a PE ratio of 10.81, a PEG ratio of 0.21 and a beta of 1.78.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last issued its quarterly earnings data on Friday, November 1st. The company reported C$2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.02 by C$0.31. Imperial Oil had a return on equity of 22.17% and a net margin of 10.09%. During the same period in the previous year, the firm posted $2.76 earnings per share.

Imperial Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Wednesday, January 1st were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 2.33%. Imperial Oil’s payout ratio is presently 25.16%.

Insider Activity at Imperial Oil

In related news, Director Bradley William Corson bought 4,800 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of C$97.44 per share, for a total transaction of C$467,713.92. 71.26% of the stock is owned by corporate insiders.

Imperial Oil Company Profile

Imperial Oil is one of Canada’s largest integrated oil companies, focusing on upstream operations, petroleum refining operations, and the marketing of petroleum products. Production averaged 398 thousand barrels of oil equivalent per day in 2020. The company estimates that it holds 5.2 billion boe of proved and probable crude oil and natural gas reserves.