Atb Cap Markets Comments on Surge Energy Inc.’s FY2024 Earnings (TSE:SGY)

Surge Energy Inc. (TSE:SGY) – Investment analysts at Atb Cap Markets dropped their FY2024 earnings estimates for shares of Surge Energy in a report released on Monday, April 22nd. Atb Cap Markets analyst A. Arif now expects that the company will post earnings of $0.62 per share for the year, down from their previous forecast of $0.83. 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 FY2026 earnings at ($0.19) EPS, FY2027 earnings at ($0.11) EPS and FY2028 earnings at ($0.05) EPS.

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

Surge Energy Price Performance

Shares of Surge Energy stock opened at C$7.67 on Wednesday. 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 twelve month low of C$5.89 and a twelve month high of C$9.77. The stock has a market capitalization of C$771.45 million, a price-to-earnings ratio of 4.73, a price-to-earnings-growth ratio of 0.59 and a beta of 2.66. The company has a 50-day simple moving average of C$7.28 and a two-hundred day simple moving average of C$7.40.

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

Surge Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.04 per share. This represents a $0.48 annualized dividend and a dividend yield of 6.26%. The ex-dividend date of this dividend is Monday, April 29th. Surge Energy’s dividend payout ratio (DPR) is presently 29.63%.

Insider Activity at Surge Energy

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

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.