Research Analysts Offer Predictions for Crescent Point Energy Corp.’s FY2023 Earnings (TSE:CPG)

Crescent Point Energy Corp. (TSE:CPGGet Rating) (NYSE:CPG) – Investment analysts at Stifel Firstegy raised their FY2023 earnings per share (EPS) estimates for shares of Crescent Point Energy in a research report issued to clients and investors on Thursday, May 19th. Stifel Firstegy analyst C. Kwong now anticipates that the company will post earnings per share of $2.24 for the year, up from their previous estimate of $2.06.

A number of other brokerages also recently issued reports on CPG. BMO Capital Markets upped their price target on Crescent Point Energy from C$13.00 to C$15.00 in a report on Monday, March 14th. TD Securities raised their price target on Crescent Point Energy from C$12.00 to C$12.50 and gave the stock an “action list buy” rating in a research note on Friday, March 4th. Scotiabank raised their price objective on Crescent Point Energy from C$8.50 to C$11.00 in a research note on Tuesday, March 8th. CIBC boosted their price objective on Crescent Point Energy from C$13.00 to C$13.50 in a research report on Thursday, April 14th. Finally, Stifel Nicolaus lifted their target price on Crescent Point Energy from C$13.75 to C$15.50 in a research note on Friday, May 13th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Crescent Point Energy currently has a consensus rating of “Buy” and an average price target of C$12.48.

Shares of Crescent Point Energy stock opened at C$9.71 on Monday. Crescent Point Energy has a 52 week low of C$3.67 and a 52 week high of C$10.08. The company has a quick ratio of 0.37, a current ratio of 0.46 and a debt-to-equity ratio of 30.21. The firm has a market capitalization of C$5.56 billion and a P/E ratio of 1.62. The company has a 50 day moving average price of C$9.16 and a 200 day moving average price of C$7.99.

Crescent Point Energy (TSE:CPGGet Rating) (NYSE:CPG) last released its earnings results on Thursday, March 3rd. The company reported C$0.27 EPS for the quarter, missing the consensus estimate of C$0.34 by C($0.07). The firm had revenue of C$900.40 million for the quarter.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Friday, April 1st were given a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 1.85%. This is a positive change from Crescent Point Energy’s previous quarterly dividend of $0.03. The ex-dividend date was Monday, March 14th. Crescent Point Energy’s payout ratio is 1.33%.

Crescent Point Energy Company Profile (Get Rating)

Crescent Point Energy Corp. explores, develops, and produces light and medium crude oil, natural gas liquids, and natural gas reserves in Western Canada and the United States. It's crude oil and natural gas properties, and related assets are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota and Montana.

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