MEG Energy Corp. (TSE:MEG) Receives Average Rating of “Hold” from Brokerages

Shares of MEG Energy Corp. (TSE:MEGGet Free Report) have earned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$32.67.

MEG has been the subject of several research analyst reports. BMO Capital Markets lifted their target price on shares of MEG Energy from C$35.00 to C$37.00 in a report on Thursday, March 28th. Royal Bank of Canada boosted their target price on shares of MEG Energy from C$32.00 to C$39.00 in a research report on Tuesday, April 9th. JPMorgan Chase & Co. upped their price objective on shares of MEG Energy from C$33.00 to C$34.00 in a research report on Tuesday, March 12th. Raymond James set a C$28.00 price objective on shares of MEG Energy and gave the stock a “market perform” rating in a research report on Wednesday, May 29th. Finally, National Bankshares upped their price target on shares of MEG Energy from C$32.00 to C$37.00 and gave the company a “sector perform” rating in a research report on Friday, April 19th.

Read Our Latest Analysis on MEG Energy

MEG Energy Stock Performance

TSE MEG opened at C$28.88 on Tuesday. The firm has a market cap of C$7.87 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.17 and a beta of 3.12. The company has a 50 day moving average of C$29.49 and a 200-day moving average of C$28.27. The company has a current ratio of 1.41, a quick ratio of 1.17 and a debt-to-equity ratio of 28.18. MEG Energy has a 1-year low of C$22.24 and a 1-year high of C$33.70.

MEG Energy (TSE:MEGGet Free Report) last announced its quarterly earnings data on Monday, May 6th. The company reported C$0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.45 by C($0.09). The business had revenue of C$1.36 billion during the quarter, compared to the consensus estimate of C$1.25 billion. MEG Energy had a net margin of 10.58% and a return on equity of 13.20%. On average, equities analysts forecast that MEG Energy will post 2.4508333 earnings per share for the current fiscal year.

About MEG Energy

(Get Free Report

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada. The company develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.

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Analyst Recommendations for MEG Energy (TSE:MEG)

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