Atb Cap Markets Weighs in on Crescent Point Energy Corp.’s FY2023 Earnings (TSE:CPG)

Crescent Point Energy Corp. (TSE:CPG) (NYSE:CPG) – Research analysts at Atb Cap Markets cut their FY2023 earnings estimates for shares of Crescent Point Energy in a note issued to investors on Thursday, August 24th. Atb Cap Markets analyst A. Arif now expects that the company will earn $1.76 per share for the year, down from their prior estimate of $1.78. The consensus estimate for Crescent Point Energy’s current full-year earnings is $1.76 per share. Atb Cap Markets also issued estimates for Crescent Point Energy’s Q4 2023 earnings at $0.50 EPS, Q1 2024 earnings at $0.32 EPS, Q2 2024 earnings at $0.33 EPS, Q3 2024 earnings at $0.32 EPS and Q4 2024 earnings at $0.32 EPS.

Crescent Point Energy (TSE:CPG) (NYSE:CPG) last released its quarterly earnings data on Wednesday, July 26th. The company reported C$0.38 EPS for the quarter, missing the consensus estimate of C$0.39 by C($0.01). The business had revenue of C$975.00 million for the quarter, compared to analysts’ expectations of C$969.10 million. Crescent Point Energy had a net margin of 11.24% and a return on equity of 5.90%.

Several other research analysts have also recently issued reports on the stock. Canaccord Genuity Group set a C$12.50 target price on shares of Crescent Point Energy and gave the stock a “buy” rating in a report on Friday, July 21st. Raymond James lifted their price target on shares of Crescent Point Energy from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. TD Securities raised their target price on shares of Crescent Point Energy from C$13.00 to C$13.50 and gave the company an “action list buy” rating in a research note on Thursday, July 27th. Stifel Nicolaus reduced their target price on Crescent Point Energy from C$15.75 to C$15.25 in a research note on Friday, July 14th. Finally, National Bankshares lowered their price objective on Crescent Point Energy from C$18.00 to C$16.00 and set an “outperform” rating for the company in a research report on Friday. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$14.30.

Crescent Point Energy Price Performance

Shares of TSE CPG opened at C$10.70 on Monday. Crescent Point Energy has a twelve month low of C$7.57 and a twelve month high of C$11.54. The firm has a market capitalization of C$5.74 billion, a P/E ratio of 14.08, a P/E/G ratio of -0.59 and a beta of 2.90. The company has a quick ratio of 0.49, a current ratio of 0.71 and a debt-to-equity ratio of 46.38. The stock’s 50-day simple moving average is C$10.03 and its two-hundred day simple moving average is C$9.61.

Crescent Point Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Thursday, September 14th. Crescent Point Energy’s payout ratio is currently 52.63%.

About Crescent Point Energy

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.