South Bow (NYSE:SOBO) Issues Quarterly Earnings Results, Beats Expectations By $0.12 EPS

South Bow (NYSE:SOBO) issued its quarterly earnings data on Wednesday. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.42 by $0.12, Zacks reports. The business had revenue of $488.00 million for the quarter, compared to analyst estimates of $524.87 million.

South Bow Trading Down 5.1 %

South Bow stock traded down $1.39 during midday trading on Thursday, reaching $25.98. 638,780 shares of the company’s stock were exchanged, compared to its average volume of 711,121. South Bow has a 52 week low of $21.12 and a 52 week high of $27.60. The company has a market cap of $5.40 billion and a price-to-earnings ratio of 14.08. The firm has a 50-day moving average price of $24.56.

Wall Street Analysts Forecast Growth

SOBO has been the subject of a number of research reports. Scotiabank increased their target price on South Bow from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Tudor Pickering upgraded South Bow to a “strong-buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company cut South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. TD Securities began coverage on South Bow in a report on Wednesday, January 15th. They issued a “hold” rating for the company. Finally, CIBC upgraded South Bow from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $23.00 to $25.00 in a report on Thursday, January 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, South Bow currently has a consensus rating of “Hold” and a consensus price target of $25.50.

South Bow Company Profile

South Bow Corp is a strategic liquids pipeline company. It is a new liquids-focused midstream infrastructure company. South Bow Corp is based in Canada.