Zacks: Brokerages Expect Cabot Oil & Gas Co. (COG) to Post $0.19 EPS

Brokerages predict that Cabot Oil & Gas Co. (NYSE:COG) will post earnings of $0.19 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Cabot Oil & Gas’ earnings, with the highest EPS estimate coming in at $0.29 and the lowest estimate coming in at $0.16. Cabot Oil & Gas posted earnings per share of $0.14 during the same quarter last year, which would indicate a positive year-over-year growth rate of 35.7%. The business is expected to issue its next earnings report on Thursday, July 26th.

On average, analysts expect that Cabot Oil & Gas will report full-year earnings of $1.08 per share for the current year, with EPS estimates ranging from $0.94 to $1.30. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.58 per share, with EPS estimates ranging from $0.61 to $2.13. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow Cabot Oil & Gas.

Cabot Oil & Gas (NYSE:COG) last released its earnings results on Friday, April 27th. The oil and gas exploration company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $473.20 million for the quarter, compared to the consensus estimate of $471.25 million. Cabot Oil & Gas had a return on equity of 10.56% and a net margin of 6.51%. Cabot Oil & Gas’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 earnings per share.

A number of equities analysts have weighed in on the company. Stifel Nicolaus assumed coverage on Cabot Oil & Gas in a research report on Tuesday. They set a “hold” rating and a $22.00 price target on the stock. Bank of America downgraded Cabot Oil & Gas from a “buy” rating to an “underperform” rating and set a $27.00 price target on the stock. in a research report on Thursday, May 10th. Morgan Stanley boosted their price target on Cabot Oil & Gas from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, April 30th. Ladenburg Thalmann set a $34.00 price target on Cabot Oil & Gas and gave the stock a “buy” rating in a research report on Friday, April 27th. Finally, Williams Capital reissued a “hold” rating and set a $28.00 price target on shares of Cabot Oil & Gas in a research report on Friday, April 27th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $30.10.

Shares of NYSE COG opened at $22.79 on Wednesday. The company has a market cap of $10.57 billion, a price-to-earnings ratio of 47.48, a price-to-earnings-growth ratio of 0.76 and a beta of 0.40. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.40 and a current ratio of 2.42. Cabot Oil & Gas has a twelve month low of $21.40 and a twelve month high of $29.57.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 30th. Investors of record on Wednesday, May 16th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Tuesday, May 15th. Cabot Oil & Gas’s dividend payout ratio (DPR) is currently 50.00%.

Cabot Oil & Gas announced that its Board of Directors has initiated a stock repurchase plan on Friday, February 23rd that authorizes the company to repurchase 30,000,000 shares. This repurchase authorization authorizes the oil and gas exploration company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Several hedge funds have recently modified their holdings of the stock. Goelzer Investment Management Inc. boosted its stake in shares of Cabot Oil & Gas by 0.9% in the fourth quarter. Goelzer Investment Management Inc. now owns 255,760 shares of the oil and gas exploration company’s stock valued at $7,315,000 after buying an additional 2,270 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Cabot Oil & Gas by 18.1% in the first quarter. Daiwa Securities Group Inc. now owns 16,251 shares of the oil and gas exploration company’s stock valued at $390,000 after buying an additional 2,488 shares during the period. Norinchukin Bank The boosted its stake in shares of Cabot Oil & Gas by 7.4% in the fourth quarter. Norinchukin Bank The now owns 36,977 shares of the oil and gas exploration company’s stock valued at $1,058,000 after buying an additional 2,553 shares during the period. Augustine Asset Management Inc. boosted its stake in shares of Cabot Oil & Gas by 2.3% in the first quarter. Augustine Asset Management Inc. now owns 112,881 shares of the oil and gas exploration company’s stock valued at $2,706,000 after buying an additional 2,553 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in shares of Cabot Oil & Gas by 46.6% in the fourth quarter. Macquarie Group Ltd. now owns 8,500 shares of the oil and gas exploration company’s stock valued at $578,000 after buying an additional 2,700 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

About Cabot Oil & Gas

Cabot Oil & Gas Corporation, an independent oil and gas company, explores for, exploits, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States. It primarily focuses on the Marcellus Shale with approximately 172,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; and the Eagle Ford Shale with approximately 79,000 net acres in the oil window of the play located in Atascosa, Frio, and La Salle Counties, Texas.

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