Imperial Oil (IMO) Lowered to “Hold” at Canaccord Genuity

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) was downgraded by equities researchers at Canaccord Genuity from a “buy” rating to a “hold” rating in a research note issued on Thursday. They currently have a C$40.00 price target on the stock, down from their previous price target of C$54.00. Canaccord Genuity’s price target points to a potential upside of 13.31% from the company’s previous close.

A number of other brokerages have also recently commented on IMO. Goldman Sachs Group upgraded Imperial Oil from a “sell” rating to a “buy” rating in a research note on Friday, October 19th. CIBC reiterated an “underperform” rating and issued a C$39.00 price target on shares of Imperial Oil in a research note on Friday, October 5th. Raymond James increased their price target on Imperial Oil from C$45.00 to C$50.00 in a research note on Friday, October 5th. JPMorgan Chase & Co. increased their price target on Imperial Oil from C$45.00 to C$49.00 in a research note on Friday, October 5th. Finally, National Bank Financial increased their price target on Imperial Oil from C$45.00 to C$46.00 and gave the company a “sector perform” rating in a research note on Thursday, October 18th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of C$45.14.

TSE IMO opened at C$35.30 on Thursday. The company has a debt-to-equity ratio of 21.64, a quick ratio of 0.81 and a current ratio of 1.20. Imperial Oil has a fifty-two week low of C$33.43 and a fifty-two week high of C$44.91.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its quarterly earnings results on Friday, November 2nd. The company reported C$0.98 EPS for the quarter, beating the Zacks’ consensus estimate of C$0.87 by C$0.11. The firm had revenue of C$9.73 billion during the quarter, compared to the consensus estimate of C$11.18 billion. Sell-side analysts forecast that Imperial Oil will post 2.86000007939944 EPS for the current year.

Imperial Oil Company Profile

Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2017, this segment had 450 million oil-equivalent barrels of proved undeveloped reserves.

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Analyst Recommendations for Imperial Oil (TSE:IMO)

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