Atb Cap Markets Raises Earnings Estimates for Surge Energy

Surge Energy Inc. (TSE:SGY) – Analysts at Atb Cap Markets raised their Q4 2024 earnings per share (EPS) estimates for shares of Surge Energy in a report released on Thursday, November 7th. Atb Cap Markets analyst A. Arif now anticipates that the company will post earnings per share of $0.25 for the quarter, up from their previous forecast of $0.24.

Several other equities research analysts have also issued reports on SGY. National Bankshares lifted their target price on shares of Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th. Cormark upgraded shares of Surge Energy to a “moderate buy” rating in a research report on Monday, September 23rd. BMO Capital Markets raised their price target on Surge Energy from C$10.00 to C$11.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Raymond James upgraded Surge Energy to a “moderate buy” rating in a report on Thursday, October 17th. Finally, Canaccord Genuity Group decreased their price objective on Surge Energy from C$11.00 to C$10.50 in a report on Tuesday, October 22nd. Three analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Surge Energy presently has a consensus rating of “Buy” and a consensus target price of C$11.43.

Surge Energy Stock Down 3.3 %

Shares of TSE SGY opened at C$5.84 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 29.47. The business has a 50-day moving average of C$6.13 and a 200-day moving average of C$6.69. The firm has a market capitalization of C$585.87 million, a price-to-earnings ratio of 3.60, a PEG ratio of 0.59 and a beta of 2.54. Surge Energy has a 12 month low of C$5.51 and a 12 month high of C$8.91.

Surge Energy Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.0433 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.52 annualized dividend and a dividend yield of 8.90%. This is an increase from Surge Energy’s previous monthly dividend of $0.04. Surge Energy’s payout ratio is currently 32.10%.

About Surge Energy

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.