Atb Cap Markets Research Analysts Decrease Earnings Estimates for Surge Energy Inc. (TSE:SGY)

Surge Energy Inc. (TSE:SGY) – Investment analysts at Atb Cap Markets reduced their Q1 2024 earnings per share estimates for shares of Surge Energy in a report released on Monday, April 22nd. Atb Cap Markets analyst A. Arif now expects that the company will post earnings per share of $0.12 for the quarter, down from their prior estimate of $0.17. The consensus estimate for Surge Energy’s current full-year earnings is $1.01 per share. Atb Cap Markets also issued estimates for Surge Energy’s Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.16 EPS, Q4 2024 earnings at $0.21 EPS and FY2025 earnings at $0.48 EPS.

A number of other equities analysts also recently issued reports on SGY. National Bankshares dropped their price target on Surge Energy from C$13.00 to C$11.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 10th. ATB Capital dropped their price target on Surge Energy from C$13.00 to C$10.50 and set an “outperform” rating on the stock in a research note on Thursday, January 18th. Raymond James lowered their target price on Surge Energy from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. Finally, BMO Capital Markets set a C$10.00 target price on Surge Energy and gave the company an “outperform” rating in a research report on Thursday, March 21st. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$11.79.

Surge Energy Stock Performance

SGY stock opened at C$7.54 on Tuesday. The company has a market cap of C$758.37 million, a P/E ratio of 4.65, a price-to-earnings-growth ratio of 0.59 and a beta of 2.66. Surge Energy has a 1 year low of C$5.89 and a 1 year high of C$9.77. The company has a debt-to-equity ratio of 33.44, a current ratio of 0.52 and a quick ratio of 0.40. The stock’s fifty day moving average price is C$7.25 and its 200-day moving average price is C$7.41.

Surge Energy (TSE:SGY) last released its quarterly earnings results on Wednesday, March 6th. The company reported C($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.53). The firm had revenue of C$168.45 million during the quarter, compared to analysts’ expectations of C$179.30 million. Surge Energy had a return on equity of 1.87% and a net margin of 2.82%.

Insider Activity

In other news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of C$7.98, for a total value of C$99,869.70. Company insiders own 1.91% of the company’s stock.

Surge Energy Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.48 annualized dividend and a dividend yield of 6.37%. Surge Energy’s payout ratio is 29.63%.

Surge Energy Company Profile

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.