Q3 2024 Earnings Forecast for Crescent Point Energy Corp. Issued By Atb Cap Markets (TSE:CPG)

Crescent Point Energy Corp. (TSE:CPG) (NYSE:CPG) – Stock analysts at Atb Cap Markets reduced their Q3 2024 earnings estimates for Crescent Point Energy in a research note issued to investors on Tuesday, May 7th. Atb Cap Markets analyst A. Arif now expects that the company will earn $0.33 per share for the quarter, down from their prior estimate of $0.38. The consensus estimate for Crescent Point Energy’s current full-year earnings is $1.43 per share. Atb Cap Markets also issued estimates for Crescent Point Energy’s Q4 2024 earnings at $0.40 EPS, FY2024 earnings at $1.37 EPS, FY2025 earnings at $0.99 EPS, FY2026 earnings at $0.46 EPS, FY2027 earnings at $0.50 EPS and FY2028 earnings at $0.55 EPS.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last released its quarterly earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share for the quarter, missing the consensus estimate of C$0.51 by C($0.14). The firm had revenue of C$1.01 billion during the quarter, compared to the consensus estimate of C$1 billion. Crescent Point Energy had a return on equity of 11.97% and a net margin of 17.88%.

CPG has been the subject of several other research reports. BMO Capital Markets boosted their price objective on Crescent Point Energy from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a report on Tuesday. National Bankshares lifted their price objective on shares of Crescent Point Energy from C$14.00 to C$19.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Stifel Nicolaus increased their target price on Crescent Point Energy from C$14.25 to C$16.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. ATB Capital lifted their price target on Crescent Point Energy from C$12.00 to C$13.00 in a research note on Monday, April 22nd. Finally, Jefferies Financial Group raised their price objective on Crescent Point Energy from C$12.00 to C$14.00 in a report on Tuesday, April 23rd. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$14.70.

Crescent Point Energy Price Performance

Shares of TSE CPG opened at C$12.03 on Wednesday. The stock’s 50-day simple moving average is C$11.35 and its two-hundred day simple moving average is C$10.06. Crescent Point Energy has a twelve month low of C$8.16 and a twelve month high of C$12.67. The firm has a market capitalization of C$7.46 billion, a P/E ratio of 8.24, a P/E/G ratio of -0.59 and a beta of 2.86. The company has a quick ratio of 0.49, a current ratio of 0.76 and a debt-to-equity ratio of 54.04.

Crescent Point Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.115 dividend. This is a boost from Crescent Point Energy’s previous quarterly dividend of $0.02. This represents a $0.46 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Point Energy’s payout ratio is 31.51%.

Insider Buying and Selling at Crescent Point Energy

In related news, Senior Officer Mark Gordon Eade sold 34,497 shares of Crescent Point Energy stock in a transaction on Thursday, April 4th. The shares were sold at an average price of C$11.83, for a total value of C$408,099.51. In other news, Senior Officer Mark Gordon Eade sold 34,497 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of C$11.83, for a total transaction of C$408,099.51. Also, Senior Officer William Garret Holt purchased 49,309 shares of Crescent Point Energy stock in a transaction that occurred on Friday, March 8th. The shares were acquired at an average price of C$10.15 per share, for a total transaction of C$500,486.35. Corporate insiders own 0.23% of the company’s stock.

Crescent Point Energy Company Profile

Crescent Point Energy Corp. explores, develops, and produces oil and gas properties in Canada and the United States. The company focuses on crude oil, tight oil, natural gas liquids, shale gas, and natural gas reserves. Its properties are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota.