Atb Cap Markets Cuts Earnings Estimates for Gear Energy

Gear Energy Ltd. (TSE:GXE) – Equities research analysts at Atb Cap Markets lowered their FY2024 earnings per share (EPS) estimates for shares of Gear Energy in a research note issued to investors on Thursday, November 7th. Atb Cap Markets analyst A. Arif now anticipates that the company will post earnings per share of $0.10 for the year, down from their prior forecast of $0.11. Atb Cap Markets has a “Hold” rating on the stock. The consensus estimate for Gear Energy’s current full-year earnings is $0.14 per share. Atb Cap Markets also issued estimates for Gear Energy’s Q4 2024 earnings at $0.02 EPS, FY2025 earnings at $0.09 EPS and FY2026 earnings at $0.02 EPS.

Gear Energy Stock Performance

Shares of Gear Energy stock opened at C$0.55 on Monday. The business has a 50-day simple moving average of C$0.59 and a 200-day simple moving average of C$0.66. The company has a market cap of C$144.97 million, a PE ratio of 11.00 and a beta of 3.52. Gear Energy has a one year low of C$0.52 and a one year high of C$0.80. The company has a debt-to-equity ratio of 6.26, a quick ratio of 0.56 and a current ratio of 0.95.

Insider Buying and Selling at Gear Energy

In other news, Director Scott Robinson acquired 74,000 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was acquired at an average cost of C$0.59 per share, with a total value of C$43,978.20. Insiders own 7.62% of the company’s stock.

Gear Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.005 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 10.91%. The ex-dividend date of this dividend is Friday, November 15th. Gear Energy’s dividend payout ratio is presently 120.00%.

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.