Surge Energy Inc. (TSE:SGY) Given Average Rating of “Hold” by Brokerages

Shares of Surge Energy Inc. (TSE:SGY) have received a consensus recommendation of “Buy” from the nine brokerages that are presently covering the company, reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$0.84.

A number of equities analysts recently commented on SGY shares. BMO Capital Markets lifted their price target on Surge Energy from C$0.75 to C$1.00 and gave the stock a “na” rating in a report on Monday, March 15th. National Bank Financial cut Surge Energy to a “sector perform” rating and set a C$0.90 price objective for the company. in a report on Thursday, April 15th. Raymond James boosted their price objective on Surge Energy from C$0.75 to C$1.25 and gave the stock an “outperform” rating in a report on Wednesday, March 17th. CIBC reduced their price objective on Surge Energy from C$1.00 to C$0.85 and set a “neutral” rating for the company in a report on Wednesday, April 14th. Finally, Stifel Firstegy upgraded Surge Energy from a “hold” rating to a “buy” rating in a report on Friday, March 5th.

Shares of TSE:SGY traded up C$0.01 during midday trading on Tuesday, reaching C$0.57. The company had a trading volume of 1,259,758 shares, compared to its average volume of 1,506,880. Surge Energy has a 1-year low of C$0.14 and a 1-year high of C$0.76. The company has a quick ratio of 0.09, a current ratio of 0.10 and a debt-to-equity ratio of 24,891.33. The stock has a market cap of C$193.68 million and a PE ratio of -0.26. The business’s 50 day moving average price is C$0.60 and its 200 day moving average price is C$0.41.

Surge Energy (TSE:SGY) last posted its quarterly earnings results on Tuesday, March 9th. The company reported C($0.08) EPS for the quarter, missing analysts’ consensus estimates of C($0.03) by C($0.05). The company had revenue of C$59.91 million during the quarter. On average, research analysts expect that Surge Energy will post 0.15 earnings per share for the current fiscal year.

Surge Energy Company Profile

Surge Energy Inc explores for, develops, and produces oil and gas in western Canada. The company holds interest in the Greater Sawn Lake assets located in Northern Alberta; Valhalla/Wembley property located in northwestern Alberta; Sparky assets located between Provost and Wainwright in eastern Alberta and western Saskatchewan; and Shaunavon properties located to the southwest of Swift Current, Saskatchewan.

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Analyst Recommendations for Surge Energy (TSE:SGY)

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