Imperial Oil FY2024 EPS Forecast Raised by Zacks Research

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) – Analysts at Zacks Research increased their FY2024 EPS estimates for shares of Imperial Oil in a report issued on Thursday, January 23rd. Zacks Research analyst R. Department now anticipates that the company will post earnings of $8.47 per share for the year, up from their previous estimate 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.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its quarterly earnings results on Friday, November 1st. The company reported C$2.33 EPS for the quarter, beating analysts’ consensus estimates of C$2.02 by C$0.31. Imperial Oil had a net margin of 10.09% and a return on equity of 22.17%. During the same period last year, the company posted $2.76 EPS.

IMO has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their price target on shares of Imperial Oil from C$97.00 to C$100.00 in a research report on Wednesday, November 13th. Royal Bank of Canada increased their target price on shares of Imperial Oil from C$99.00 to C$101.00 in a report on Wednesday, November 6th. CIBC raised their price objective on Imperial Oil from C$105.00 to C$108.00 in a report on Friday, January 17th. Raymond James boosted their target price on shares of Imperial Oil from C$101.50 to C$104.00 in a report on Friday, December 13th. Finally, Wolfe Research cut Imperial Oil from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average target price of C$104.20.

Imperial Oil Stock Down 2.3 %

IMO opened at C$100.75 on Friday. Imperial Oil has a fifty-two week low of C$75.33 and a fifty-two week high of C$108.89. The company has a debt-to-equity ratio of 18.27, a quick ratio of 0.98 and a current ratio of 1.40. The stock has a fifty day moving average of C$97.82 and a 200-day moving average of C$98.70. The company has a market capitalization of C$53.99 billion, a P/E ratio of 10.56, a P/E/G ratio of 0.21 and a beta of 1.78.

Insider Buying and Selling at Imperial Oil

In other news, Director Bradley William Corson acquired 4,800 shares of Imperial Oil stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of C$97.44 per share, with a total value of C$467,713.92. Insiders own 71.26% of the company’s stock.

Imperial Oil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Wednesday, January 1st were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Tuesday, December 3rd. Imperial Oil’s dividend payout ratio is currently 25.16%.

About Imperial Oil

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.