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

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

South Bow Price Performance

NYSE SOBO traded down $1.27 during trading on Thursday, reaching $26.11. The company’s stock had a trading volume of 575,498 shares, compared to its average volume of 709,773. The company has a 50 day moving average of $24.56. South Bow has a 12 month low of $21.12 and a 12 month high of $27.60. The stock has a market cap of $5.43 billion and a price-to-earnings ratio of 14.24.

Analyst Ratings Changes

Several equities research analysts have weighed in on SOBO shares. Tudor Pickering upgraded shares of South Bow to a “strong-buy” rating in a report on Tuesday, November 19th. Scotiabank boosted their price target on shares of South Bow from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. TD Securities assumed coverage on shares of South Bow in a research note on Wednesday, January 15th. They issued a “hold” rating for the company. CIBC raised South Bow from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $23.00 to $25.00 in a report on Thursday, January 9th. Finally, Wells Fargo & Company cut shares of South Bow from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.