Brokers Issue Forecasts for SurgePays, Inc.’s Q1 2024 Earnings (NASDAQ:SURG)

SurgePays, Inc. (NASDAQ:SURG) – Equities research analysts at Sidoti Csr issued their Q1 2024 EPS estimates for SurgePays in a research note issued to investors on Tuesday, April 23rd. Sidoti Csr analyst A. Soderstrom forecasts that the medical equipment provider will post earnings of $0.27 per share for the quarter. The consensus estimate for SurgePays’ current full-year earnings is $0.42 per share. Sidoti Csr also issued estimates for SurgePays’ Q2 2024 earnings at $0.00 EPS, Q3 2024 earnings at $0.05 EPS, Q4 2024 earnings at $0.09 EPS, FY2024 earnings at $0.42 EPS, Q1 2025 earnings at $0.13 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.16 EPS, Q4 2025 earnings at $0.17 EPS and FY2025 earnings at $0.61 EPS.

SurgePays (NASDAQ:SURG) last announced its earnings results on Tuesday, March 12th. The medical equipment provider reported $0.19 earnings per share for the quarter. SurgePays had a net margin of 15.03% and a return on equity of 104.66%. The firm had revenue of $32.32 million for the quarter.

A number of other equities research analysts also recently commented on SURG. Maxim Group downgraded shares of SurgePays from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Ascendiant Capital Markets dropped their price objective on shares of SurgePays from $11.50 to $10.00 and set a “buy” rating on the stock in a research report on Monday, April 1st.

SurgePays Price Performance

Shares of SURG opened at $3.39 on Thursday. SurgePays has a fifty-two week low of $3.28 and a fifty-two week high of $9.23. The firm’s 50 day moving average price is $5.04 and its 200 day moving average price is $5.75. The company has a market cap of $65.39 million, a P/E ratio of 2.44, a PEG ratio of 0.53 and a beta of 1.08. The company has a quick ratio of 1.91, a current ratio of 2.63 and a debt-to-equity ratio of 0.02.

Institutional Investors Weigh In On SurgePays

A number of large investors have recently modified their holdings of the company. Bailard Inc. boosted its holdings in shares of SurgePays by 10.8% in the 4th quarter. Bailard Inc. now owns 65,480 shares of the medical equipment provider’s stock valued at $422,000 after buying an additional 6,405 shares in the last quarter. Jump Financial LLC boosted its holdings in shares of SurgePays by 44.7% in the 4th quarter. Jump Financial LLC now owns 16,500 shares of the medical equipment provider’s stock valued at $106,000 after buying an additional 5,100 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of SurgePays in the 4th quarter valued at $106,000. FNY Investment Advisers LLC acquired a new position in shares of SurgePays in the 4th quarter valued at $95,000. Finally, Oxford Asset Management LLP acquired a new position in shares of SurgePays in the 4th quarter valued at $71,000. 6.94% of the stock is owned by hedge funds and other institutional investors.

About SurgePays

SurgePays, Inc, together with its subsidiaries, operates as a financial technology and telecom company in the United States. It operates through three segments: Mobile Virtual Network Operators, Comprehensive Platform Services, and Lead Generation. The company offers subsidized and non-subsidized mobile virtual network operators for internet connectivity through mobile broadband services to consumers; ACH banking relationships and fintech transactions platform to convenience stores; wireless top-up transactions and wireless product aggregation; and lead generation and case management solutions primarily to law firms in the mass tort industry, as well as call center activities.