Though we’ve firmly entered the summer doldrums when it comes to interesting news, Wednesday (tomorrow) is slated to be relatively hectic. Some of Canada’s biggest companies are reporting their second quarter results and we could see some big moves from a few of these stocks.
Tabled below are where expectations for revenues and earnings currently sit for these 5 names.
Revenues
| Company |
Q2’13 Revs (E) |
Q1’13 Revs |
Q2’12 Revs |
| Cenovus Energy (TSX: CVE) |
$4,457 |
$4,319 |
$4,214 |
| Encana (TSX:ECA) |
1,458 |
1,059 |
731 |
| Loblaw (TSX: L) |
7,549 |
7,202 |
7,375 |
| Rogers (TSX: RCI.B) |
3,203 |
3,027 |
3,106 |
| Agnico-Eagle (TSX: AEM) |
343 |
423 |
437 |
Source: Capital IQ
EPS
| Company |
Q2’13 EPS (E) |
Q1’13 EPS |
Q2’12 EPS |
| Cenovus Energy (TSX: CVE) |
$0.45 |
$0.23 |
$0.52 |
| Encana (TSX:ECA) |
$0.18 |
-$0.59 |
-$2.01 |
| Loblaw (TSX: L) |
$0.59 |
$0.60 |
$0.56 |
| Rogers (TSX: RCI.B) |
$0.96 |
$0.68 |
$0.75 |
| Agnico-Eagle (TSX: AEM) |
$0.09 |
$0.14 |
$0.25 |
Source: Capital IQ
Stocks to watch
The two stocks with the most potential to make a dramatic move after tomorrow’s report, in my mind, are Encana and Agnico-Eagle. Encana’s stock hasn’t really been impacted by the rebound in natural gas that’s occurred – almost as though the market is waiting for an adverse development or two to appear. Perhaps even a dividend cut. If Encana reports a relatively clean quarter, its shares could jump.
And Agnico-Eagle is going to give us a taste of what’s to come for its gold mining peers. The plight of the gold miners has been well-documented, but like Encana, if Agnico can somehow demonstrate that it’s really not all that bad out there in gold land, its shares, as well as the rest of the group, could surge.
Foolish Takeaway
In the grand scheme of things, a single quarter rarely means all that much. However, the market tends to react to quarterly surprises and if you know what to look for, and are prepared ahead of time, you could be provided with a great opportunity to transact. Given the stature of all 5 of these names, you can bet that if reported results are materially different from what’s expected, you’ll hear about it.
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Fool contributor Iain Butler owns shares of Cenovus Energy. The Motley Fool doesn’t own shares in any of the companies mentioned.
