FY2024 Earnings Estimate for Imperial Oil Limited Issued By Zacks Research (TSE:IMO)

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) – Research analysts at Zacks Research boosted their FY2024 earnings estimates for Imperial Oil in a note issued to investors on Friday, October 4th. Zacks Research analyst R. Department now forecasts that the company will post earnings of $8.27 per share for the year, up from their prior estimate of $8.26. The consensus estimate for Imperial Oil’s current full-year earnings is $7.65 per share. Zacks Research also issued estimates for Imperial Oil’s Q1 2025 earnings at $1.71 EPS and Q2 2025 earnings at $2.15 EPS.

Several other research firms have also commented on IMO. Royal Bank of Canada dropped their price target on shares of Imperial Oil from C$108.00 to C$99.00 in a research report on Tuesday, September 17th. BMO Capital Markets raised their target price on Imperial Oil from C$115.00 to C$120.00 in a research report on Friday, October 4th. Scotiabank cut Imperial Oil from an “outperform” rating to a “sector perform” rating and set a C$110.00 price target for the company. in a report on Wednesday, September 25th. National Bankshares dropped their price objective on Imperial Oil from C$115.00 to C$112.00 in a report on Friday, September 27th. Finally, Desjardins upped their target price on Imperial Oil from C$92.00 to C$101.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Ten investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$99.69.

Imperial Oil Stock Performance

Shares of IMO stock opened at C$105.31 on Monday. The stock has a market cap of C$56.43 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 0.21 and a beta of 1.80. Imperial Oil has a 52-week low of C$72.03 and a 52-week high of C$108.04. The business has a 50-day simple moving average of C$97.62 and a 200-day simple moving average of C$95.41. The company has a quick ratio of 0.98, a current ratio of 1.40 and a debt-to-equity ratio of 18.27.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last posted its quarterly earnings data on Friday, August 2nd. The company reported C$2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.94 by C$0.17. Imperial Oil had a net margin of 10.09% and a return on equity of 22.17%. The firm had revenue of C$13.38 billion for the quarter, compared to the consensus estimate of C$14.30 billion.

Imperial Oil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, October 1st were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $2.40 annualized dividend and a yield of 2.28%. Imperial Oil’s dividend payout ratio is currently 25.16%.

Imperial Oil Company Profile

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.