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

Cameco (NYSE:CCJ) (TSE:CCO) posted its quarterly earnings data on Thursday. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.40), Briefing.com reports. The company had revenue of $721.00 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 earnings per share. Cameco updated its FY 2024 guidance to EPS.

Cameco Trading Down 2.0 %

CCJ traded down $1.07 during trading on Friday, hitting $52.51. 2,792,367 shares of the stock were exchanged, compared to its average volume of 4,406,778. The firm has a 50 day simple moving average of $48.03 and a 200 day simple moving average of $48.15. The firm has a market cap of $22.85 billion, a price-to-earnings ratio of 120.70 and a beta of 0.89. Cameco has a 1 year low of $35.43 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22.

Cameco Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.118 per share. This is an increase from Cameco’s previous annual dividend of $0.09. This represents a yield of 0.22%. The ex-dividend date of this dividend is Wednesday, November 27th. Cameco’s dividend payout ratio (DPR) is presently 18.60%.

Analyst Ratings Changes

CCJ has been the subject of several analyst reports. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Scotiabank decreased their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Glj Research reissued a “buy” rating and set a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $66.56.

Cameco Company Profile

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.