Brokers Offer Predictions for Gear Energy Ltd.’s FY2024 Earnings (TSE:GXE)

Gear Energy Ltd. (TSE:GXE) – Stock analysts at Atb Cap Markets lowered their FY2024 earnings per share estimates for shares of Gear Energy in a report released on Wednesday, May 1st. Atb Cap Markets analyst A. Arif now anticipates that the company will earn $0.09 per share for the year, down from their previous forecast of $0.10. The consensus estimate for Gear Energy’s current full-year earnings is $0.12 per share.

Gear Energy (TSE:GXE) last released its quarterly earnings results on Wednesday, February 21st. The company reported C($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.02 by C($0.05). Gear Energy had a return on equity of 3.81% and a net margin of 7.00%. The company had revenue of C$37.52 million for the quarter.

Separately, ATB Capital lowered their price target on Gear Energy from C$1.25 to C$1.00 and set an “outperform” rating on the stock in a research note on Thursday, January 18th.

Gear Energy Stock Up 1.4 %

Shares of Gear Energy stock opened at C$0.72 on Monday. The stock has a market capitalization of C$189.63 million, a P/E ratio of 24.00 and a beta of 3.73. The stock has a 50 day moving average price of C$0.67 and a two-hundred day moving average price of C$0.68. The company has a quick ratio of 0.56, a current ratio of 1.10 and a debt-to-equity ratio of 9.40. Gear Energy has a 12-month low of C$0.60 and a 12-month high of C$1.04.

Gear Energy Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 31st will be issued a dividend of $0.005 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 8.33%. The ex-dividend date is Tuesday, May 14th. Gear Energy’s payout ratio is 200.00%.

About Gear Energy

Gear Energy Ltd., an exploration and production company, engages in the acquiring, developing, and holding of interests in petroleum and natural gas properties and assets in Canada. The company's oil properties are located in Central Alberta, West Central Saskatchewan, and Southeast Saskatchewan.