Q1 2024 EPS Estimates for Surge Energy Inc. (TSE:SGY) Cut by Atb Cap Markets

Surge Energy Inc. (TSE:SGY) – Equities researchers at Atb Cap Markets reduced their Q1 2024 earnings per share estimates for Surge Energy in a note issued to investors on Monday, April 22nd. Atb Cap Markets analyst A. Arif now anticipates that the company will earn $0.12 per share for the quarter, down from their previous 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.

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

Surge Energy Stock Down 1.0 %

Shares of TSE:SGY opened at C$7.67 on Tuesday. 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 stock’s fifty day simple moving average is C$7.28 and its 200-day simple moving average is C$7.40. The company has a market capitalization of C$771.45 million, a P/E ratio of 4.73, a P/E/G ratio of 0.59 and a beta of 2.66.

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

Surge Energy Dividend Announcement

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

Insiders Place Their Bets

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 stock was 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.