Scotiabank Downgrades Imperial Oil (TSE:IMO) to Sector Perform

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) was downgraded by stock analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a report released on Wednesday, Marketbeat.com reports. They currently have a C$110.00 target price on the stock. Scotiabank’s price target indicates a potential upside of 18.71% from the company’s current price.

IMO has been the subject of a number of other reports. TD Securities upped their target price on shares of Imperial Oil from C$91.00 to C$92.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Wolfe Research raised Imperial Oil to a “strong-buy” rating in a research note on Thursday, July 18th. Desjardins lifted their target price on Imperial Oil from C$92.00 to C$101.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada dropped their price objective on shares of Imperial Oil from C$108.00 to C$99.00 in a research note on Tuesday, September 17th. Finally, Raymond James set a C$93.00 target price on shares of Imperial Oil and gave the company a “market perform” rating in a report on Wednesday, May 29th. Ten analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$99.69.

Imperial Oil Trading Down 2.4 %

TSE:IMO opened at C$92.66 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.40 and a debt-to-equity ratio of 18.27. Imperial Oil has a 52-week low of C$72.03 and a 52-week high of C$106.09. The stock’s 50 day moving average price is C$97.34 and its 200 day moving average price is C$95.08. The company has a market capitalization of C$49.65 billion, a PE ratio of 9.67, a P/E/G ratio of 0.21 and a beta of 1.80.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last announced its earnings results on Friday, August 2nd. The company reported C$2.11 EPS for the quarter, beating analysts’ consensus estimates of C$1.94 by C$0.17. Imperial Oil had a net margin of 10.09% and a return on equity of 22.17%. The business had revenue of C$13.38 billion for the quarter, compared to analysts’ expectations of C$14.30 billion. On average, research analysts anticipate that Imperial Oil will post 8.0042992 EPS for the current year.

About Imperial Oil

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.