Q1 2024 EPS Estimates for Surge Energy Inc. (TSE:SGY) Lowered by Analyst

Surge Energy Inc. (TSE:SGY) – Stock analysts at Atb Cap Markets reduced their Q1 2024 earnings per share (EPS) estimates for shares of Surge Energy in a research report issued on Monday, April 22nd. Atb Cap Markets analyst A. Arif now expects that the company will earn $0.12 per share for the quarter, down from their prior forecast of $0.17. The consensus estimate for Surge Energy’s current full-year earnings is $1.01 per share. Atb Cap Markets also issued estimates for Surge Energy’s Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.16 EPS, Q4 2024 earnings at $0.21 EPS and FY2025 earnings at $0.48 EPS.

A number of other analysts have also recently weighed in on SGY. BMO Capital Markets set a C$10.00 price target on shares of Surge Energy and gave the stock an “outperform” rating in a research report on Thursday, March 21st. ATB Capital decreased their price target on shares of Surge Energy from C$13.00 to C$10.50 and set an “outperform” rating for the company in a research report on Thursday, January 18th. National Bankshares decreased their price target on shares of Surge Energy from C$13.00 to C$11.00 and set an “outperform” rating for the company in a research report on Wednesday, January 10th. Finally, Raymond James decreased their price target on shares of Surge Energy from C$14.00 to C$12.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$11.79.

Surge Energy Trading Up 2.8 %

SGY stock opened at C$7.75 on Tuesday. The business has a fifty day simple moving average of C$7.28 and a 200-day simple moving average of C$7.40. The company has a quick ratio of 0.40, a current ratio of 0.52 and a debt-to-equity ratio of 33.44. Surge Energy has a 52 week low of C$5.89 and a 52 week high of C$9.77. The company has a market cap of C$779.50 million, a price-to-earnings ratio of 4.78, a PEG ratio of 0.59 and a beta of 2.66.

Surge Energy (TSE:SGY) last released its quarterly earnings data on Wednesday, March 6th. The company reported C($0.29) EPS for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.53). The firm had revenue of C$168.45 million for the quarter, compared to analyst estimates of C$179.30 million. Surge Energy had a return on equity of 1.87% and a net margin of 2.82%.

Insider Buying and Selling at Surge Energy

In other Surge Energy news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of C$7.98, for a total value of C$99,869.70. 1.91% of the stock is currently owned by corporate insiders.

Surge Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.48 dividend on an annualized basis and a yield of 6.19%. Surge Energy’s payout ratio is currently 29.63%.

Surge Energy Company Profile

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.