What is Scotiabank’s Forecast for Cameco FY2024 Earnings?

Cameco Co. (TSE:CCO) (NYSE:CCJ) – Investment analysts at Scotiabank lowered their FY2024 earnings estimates for Cameco in a research note issued on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now forecasts that the company will post earnings per share of $0.58 for the year, down from their prior estimate of $0.77. Scotiabank also issued estimates for Cameco’s FY2025 earnings at $1.18 EPS and FY2026 earnings at $1.54 EPS.

Several other research firms have also weighed in on CCO. Canaccord Genuity Group upped their target price on Cameco from C$75.00 to C$78.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Raymond James increased their price objective on shares of Cameco from C$81.00 to C$88.00 in a research note on Friday, November 22nd. Royal Bank of Canada lifted their target price on shares of Cameco from C$75.00 to C$90.00 in a research report on Thursday, November 21st. National Bankshares upped their price target on shares of Cameco from C$85.00 to C$87.00 in a report on Friday, November 8th. Finally, Eight Capital raised their price objective on shares of Cameco from C$80.00 to C$90.00 in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$84.30.

Cameco Stock Performance

CCO opened at C$70.44 on Monday. Cameco has a 1-year low of C$48.71 and a 1-year high of C$88.18. The stock has a market cap of C$30.65 billion, a P/E ratio of 119.39, a P/E/G ratio of 2.22 and a beta of 0.90. The stock’s 50 day simple moving average is C$77.55 and its 200 day simple moving average is C$68.37. The company has a debt-to-equity ratio of 25.39, a current ratio of 3.22 and a quick ratio of 3.74.

Insiders Place Their Bets

In other news, Senior Officer Tim Scott Gitzel sold 50,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of C$85.66, for a total transaction of C$4,283,000.00. Also, Senior Officer Lisa Lorene Aitken sold 2,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of C$75.19, for a total value of C$150,380.00. Insiders have sold a total of 80,962 shares of company stock valued at $6,800,456 in the last quarter. 0.15% of the stock is currently owned by company insiders.

Cameco Increases Dividend

The firm also recently declared an annual dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were issued a $0.16 dividend. The ex-dividend date was Wednesday, November 27th. This is an increase from Cameco’s previous annual dividend of $0.12. This represents a yield of 0.22%. Cameco’s payout ratio is 20.34%.

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.