South Bow (NYSE:SOBO) Posts Earnings Results, Beats Expectations By $0.12 EPS

South Bow (NYSE:SOBO) released its quarterly earnings results on Wednesday. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12, Zacks reports. The business had revenue of $488.00 million during the quarter, compared to analyst estimates of $524.87 million.

South Bow Trading Down 5.1 %

Shares of NYSE SOBO traded down $1.39 during midday trading on Thursday, reaching $25.98. 638,780 shares of the company were exchanged, compared to its average volume of 711,121. The company’s 50-day moving average price is $24.56. The stock has a market capitalization of $5.40 billion and a PE ratio of 14.08. South Bow has a one year low of $21.12 and a one year high of $27.60.

Wall Street Analysts Forecast Growth

SOBO has been the subject of a number of analyst reports. Wells Fargo & Company downgraded shares of South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. Scotiabank lifted their price objective on shares of South Bow from $24.00 to $26.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Tudor Pickering raised shares of South Bow to a “strong-buy” rating in a research note on Tuesday, November 19th. CIBC raised shares of South Bow from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $23.00 to $25.00 in a research note on Thursday, January 9th. Finally, TD Securities began coverage on shares of South Bow in a research note on Wednesday, January 15th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, South Bow has an average rating of “Hold” and an average target price of $25.50.

South Bow Company Profile

South Bow Corp is a strategic liquids pipeline company. It is a new liquids-focused midstream infrastructure company. South Bow Corp is based in Canada.