Zacks: Analysts Anticipate Goldcorp Inc. (GG) Will Announce Earnings of $0.05 Per Share

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Equities research analysts expect Goldcorp Inc. (NYSE:GG) (TSE:G) to announce $0.05 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for Goldcorp’s earnings, with the highest EPS estimate coming in at $0.08 and the lowest estimate coming in at $0.02. Goldcorp posted earnings of $0.08 per share in the same quarter last year, which would suggest a negative year over year growth rate of 37.5%. The firm is scheduled to report its next quarterly earnings results on Wednesday, April 24th.

According to Zacks, analysts expect that Goldcorp will report full-year earnings of $0.31 per share for the current financial year, with EPS estimates ranging from $0.20 to $0.53. For the next financial year, analysts forecast that the company will report earnings of $0.46 per share, with EPS estimates ranging from $0.22 to $0.74. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Goldcorp.

Goldcorp (NYSE:GG) (TSE:G) last issued its quarterly earnings data on Wednesday, February 13th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.05. The firm had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $853.36 million. Goldcorp had a negative net margin of 136.84% and a positive return on equity of 0.86%.

GG has been the subject of several research analyst reports. Deutsche Bank reduced their price target on shares of Goldcorp from $13.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Cormark reiterated a “hold” rating on shares of Goldcorp in a report on Tuesday, January 29th. UBS Group cut shares of Goldcorp from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a report on Tuesday, February 12th. Royal Bank of Canada cut shares of Goldcorp from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $15.00 to $13.00 in a report on Tuesday, February 26th. Finally, Vertical Research cut shares of Goldcorp from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $13.13.

A number of institutional investors and hedge funds have recently made changes to their positions in GG. Estabrook Capital Management boosted its holdings in Goldcorp by 37.7% during the fourth quarter. Estabrook Capital Management now owns 4,475 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 1,225 shares during the last quarter. We Are One Seven LLC acquired a new position in Goldcorp during the fourth quarter worth $92,000. Gideon Capital Advisors Inc. acquired a new position in Goldcorp during the fourth quarter worth $106,000. Brown Advisory Inc. acquired a new position in Goldcorp during the third quarter worth $111,000. Finally, Falcon Point Capital LLC acquired a new position in Goldcorp during the fourth quarter worth $116,000. Institutional investors and hedge funds own 55.56% of the company’s stock.

NYSE GG traded down $0.01 during trading on Wednesday, reaching $11.60. 10,463,587 shares of the stock traded hands, compared to its average volume of 20,601,080. The stock has a market cap of $10.03 billion, a P/E ratio of 165.71 and a beta of 0.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.47 and a current ratio of 0.87. Goldcorp has a fifty-two week low of $8.42 and a fifty-two week high of $14.66.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Thursday, March 14th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.69%. The ex-dividend date was Wednesday, March 13th. Goldcorp’s payout ratio is 114.29%.

About Goldcorp

Goldcorp Inc acquires, explores for, develops, and operates precious metal properties in Canada, the United States, Mexico, and Central and South America. The company primarily explores for gold, zinc, silver, lead, and copper deposits. Its principal producing mining properties include the Éléonore, Musselwhite, Porcupine, and Red Lake mines in Canada; the Peñasquito mine in Mexico; the Cerro Negro mine in Argentina; and the Pueblo Viejo mine in the Dominican Republic.

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Earnings History and Estimates for Goldcorp (NYSE:GG)

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