Stifel Firstegy Equities Analysts Boost Earnings Estimates for Spartan Delta Corp. (TSE:SDE)

Spartan Delta Corp. (TSE:SDEGet Rating) – Investment analysts at Stifel Firstegy boosted their FY2023 earnings estimates for shares of Spartan Delta in a report issued on Thursday, April 21st. Stifel Firstegy analyst C. Kwong now forecasts that the company will earn $3.11 per share for the year, up from their prior estimate of $2.96.

Spartan Delta (TSE:SDEGet Rating) last released its earnings results on Tuesday, March 8th. The company reported C$0.76 EPS for the quarter, topping analysts’ consensus estimates of C$0.38 by C$0.38. The business had revenue of C$296.43 million for the quarter.

A number of other brokerages have also recently issued reports on SDE. Raymond James raised their target price on Spartan Delta from C$10.00 to C$13.00 and gave the stock an “outperform” rating in a report on Friday, March 25th. BMO Capital Markets boosted their price objective on shares of Spartan Delta from C$8.00 to C$9.50 in a report on Wednesday, March 9th. ATB Capital increased their target price on shares of Spartan Delta from C$8.25 to C$9.50 in a report on Wednesday, February 16th. National Bankshares decreased their price target on shares of Spartan Delta from C$18.00 to C$14.50 in a report on Thursday, April 14th. Finally, CIBC raised their price objective on Spartan Delta from C$11.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Thursday, April 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$13.50.

Shares of Spartan Delta stock opened at C$11.12 on Monday. The firm has a market cap of C$1.76 billion and a P/E ratio of 4.45. The company has a quick ratio of 0.40, a current ratio of 0.45 and a debt-to-equity ratio of 49.89. Spartan Delta has a 12 month low of C$3.92 and a 12 month high of C$12.65.

In other Spartan Delta news, Senior Officer Ashley Dawn Hohm sold 23,600 shares of the business’s stock in a transaction dated Thursday, April 14th. The shares were sold at an average price of C$11.01, for a total transaction of C$259,833.64. Following the sale, the insider now directly owns 315,464 shares of the company’s stock, valued at approximately C$3,473,227.09. Also, Director Donald Archibald acquired 16,666 shares of the firm’s stock in a transaction dated Thursday, April 14th. The stock was bought at an average price of C$3.00 per share, with a total value of C$49,998.00. Following the acquisition, the director now directly owns 1,063,234 shares in the company, valued at C$3,189,702.

About Spartan Delta (Get Rating)

Spartan Delta Corp. engages in the exploration, development, and production of petroleum and natural gas properties in the Western Canada. It also owns and operates oil and gas properties in Alberta, Saskatchewan, and British Columbia. As of December 31, 2021, company owned total proved plus probable reserves of 545,734 thousand barrels of oil equivalent.

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