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セノバス・エナジーは第1四半期決算発表後もTPHで「買い」の投資判断を維持し、目標株価は42.00カナダドルとした。

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-- スティフェル・カナダは水曜日、石油生産・精製会社セノバス・エナジー（CVE.TO、CVE）の第1四半期決算発表を受け、同社の株式に対する買い推奨を維持し、目標株価を42.00カナダドルとした。 CVEは第1四半期決算で全体的に予想を上回る業績を達成しました。これは、上流部門と下流部門がほぼ均等に好調だったことに加え、設備投資が予想を上回ったことでフリーキャッシュフロー（FCF）も予想を上回ったためです。AFFOは予想を約16%上回り（33億8000万カナダドル対TPHe/Street予想29億2000万カナダドル、1株当たり1.80カナダドル対TPHe/Street予想1.54カナダドル）、設備投資が予想を上回ったこと（11億7000万カナダドル対TPHe/Street予想12億7000万カナダドル）を差し引いた結果、FCFも予想を上回りました（22億1000万カナダドル対TPHe/Street予想16億5000万カナダドル）。セグメント別に見ると、下流部門がわずかに予想を上回りました（約55%対TPHe）。処理量は合計で45万9000バレル相当日（TPHe/Street予想46万4000バレル相当日）と予想をやや下回りましたが、在庫保有高が4億6000万カナダドル増加したことが主な要因です。ドライバーと当社のモデルの比較：営業利益は7億3000万カナダドルに対し、TPHe/Streetの予想は4億5000万カナダドル/4億3000万カナダドル。アップストリーム部門では、総生産量が日量97万2000バレル相当（TPHe/Streetの予想96万2000バレル/96万3000バレル）と、TPHe/Streetの予想を大きく上回り、営業利益は37億1000万カナダドルに対し、TPHe/Streetの予想は33億4000万カナダドルとなった。優先株を含めた株主還元という観点から見ると、CVEは当四半期に10億4000万カナダドルを還元した（自社株買い約3億6500万カナダドル、配当約3億7900万カナダドル、優先株償還約3億カナダドル）。また、四半期配当は10%増の1株当たり0.22カナダドルとなった」と、アナリストのジェフリー・ラムブジョン氏は記している。 （は、北米、アジア、ヨーロッパの主要銀行および調査会社による株式、商品、経済に関する調査レポートを配信しています。調査レポート提供者の方は、こちらからお問い合わせください：https://www..com/contact-us）

Price: $39.25, Change: $-2.26, Percent Change: -5.44%

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