Cameco (NYSE:CCJ) Posts Earnings Results, Misses Expectations By $0.40 EPS

Cameco (NYSE:CCJ) (TSE:CCO) announced its earnings results on Thursday. The basic materials company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.40), Briefing.com reports. The firm had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. Cameco’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 earnings per share. Cameco updated its FY 2024 guidance to EPS.

Cameco Stock Performance

CCJ stock opened at $52.54 on Friday. The firm has a market cap of $22.86 billion, a P/E ratio of 122.19 and a beta of 0.89. The stock’s 50 day simple moving average is $48.27 and its 200 day simple moving average is $48.18. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23. Cameco has a 12-month low of $35.43 and a 12-month high of $58.72.

Cameco Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be issued a $0.118 dividend. This represents a dividend yield of 0.22%. This is an increase from Cameco’s previous annual dividend of $0.09. The ex-dividend date is Wednesday, November 27th. Cameco’s payout ratio is 20.93%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CCJ. Scotiabank cut their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. National Bank Financial raised Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Glj Research reaffirmed a “buy” rating and issued a $63.73 target price on shares of Cameco in a research report on Wednesday, August 14th. Finally, Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $66.56.

About Cameco

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.