Q1 2024 Earnings Forecast for Gear Energy Ltd. Issued By Stifel Firstegy (TSE:GXE)

Gear Energy Ltd. (TSE:GXEGet Rating) – Research analysts at Stifel Firstegy issued their Q1 2024 earnings per share estimates for shares of Gear Energy in a research note issued on Thursday, January 12th. Stifel Firstegy analyst M. Dunn expects that the company will post earnings per share of $0.02 for the quarter. Stifel Firstegy currently has a “Hold” rating on the stock. The consensus estimate for Gear Energy’s current full-year earnings is $0.21 per share. Stifel Firstegy also issued estimates for Gear Energy’s Q2 2024 earnings at $0.02 EPS, Q3 2024 earnings at $0.02 EPS, Q4 2024 earnings at $0.02 EPS and FY2024 earnings at $0.07 EPS.

Separately, Stifel Nicolaus set a C$1.15 price objective on Gear Energy and gave the stock a “hold” rating in a report on Friday.

Gear Energy Stock Performance

GXE opened at C$1.08 on Monday. Gear Energy has a 12-month low of C$0.96 and a 12-month high of C$1.94. The firm has a market capitalization of C$280.48 million and a P/E ratio of 2.25. The stock’s 50 day moving average price is C$1.15 and its two-hundred day moving average price is C$1.21. The company has a quick ratio of 0.56, a current ratio of 0.99 and a debt-to-equity ratio of 2.07.

Gear Energy (TSE:GXEGet Rating) last released its earnings results on Wednesday, November 2nd. The company reported C$0.07 earnings per share (EPS) for the quarter. The business had revenue of C$44.84 million during the quarter.

Insider Activity at Gear Energy

In related news, Senior Officer Bryan Dozzi sold 81,700 shares of the business’s stock in a transaction on Wednesday, December 28th. The stock was sold at an average price of C$1.10, for a total value of C$90,033.40. Following the sale, the insider now owns 216,099 shares of the company’s stock, valued at approximately C$238,141.10. In other news, Director Ingram Gillmore sold 144,700 shares of the business’s stock in a transaction on Thursday, December 22nd. The stock was sold at an average price of C$1.04, for a total transaction of C$150,488.00. Following the completion of the sale, the director now owns 1,850,091 shares in the company, valued at C$1,924,094.64. Also, Senior Officer Bryan Dozzi sold 81,700 shares of the company’s stock in a transaction dated Wednesday, December 28th. The shares were sold at an average price of C$1.10, for a total value of C$90,033.40. Following the completion of the sale, the insider now owns 216,099 shares of the company’s stock, valued at approximately C$238,141.10. Insiders have sold a total of 1,458,500 shares of company stock valued at $1,801,579 in the last 90 days.

Gear Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Monday, January 16th will be issued a dividend of $0.01 per share. This represents a $0.12 annualized dividend and a dividend yield of 11.11%. The ex-dividend date is Friday, January 13th. Gear Energy’s payout ratio is presently 10.42%.

Gear Energy Company Profile

(Get Rating)

Gear Energy Ltd., an exploration and production company, acquires, develops, and holds interests in petroleum and natural gas properties and assets in Canada. Its properties include the Celtic/Paradise Hill property located approximately 40 kilometers northeast of Lloydminster Alberta; the Wildmere field situated approximately 200 kilometers southeast of Edmonton, Alberta; the Wilson Creek property located in Central Alberta; and the Tableland property situated southwest of Estevan in Southeast Saskatchewan.

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Earnings History and Estimates for Gear Energy (TSE:GXE)

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