Cormark Increases Journey Energy (TSE:JOY) Price Target to C$6.50

Journey Energy (TSE:JOY) had its price target hoisted by equities research analysts at Cormark from C$6.00 to C$6.50 in a research note issued on Thursday, BayStreet.CA reports. Cormark’s price target points to a potential upside of 79.56% from the stock’s previous close.

Separately, Stifel Nicolaus decreased their target price on shares of Journey Energy from C$5.50 to C$5.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th.

Journey Energy Stock Performance

Shares of TSE:JOY traded up C$0.07 during midday trading on Thursday, reaching C$3.62. 54,258 shares of the company’s stock traded hands, compared to its average volume of 113,519. The company has a debt-to-equity ratio of 19.71, a quick ratio of 0.95 and a current ratio of 0.44. Journey Energy has a one year low of C$3.02 and a one year high of C$6.22. The company has a market cap of C$222.09 million, a price-to-earnings ratio of 15.04, a P/E/G ratio of 0.01 and a beta of 3.53. The stock has a 50 day moving average of C$3.55 and a 200 day moving average of C$3.81.

Journey Energy (TSE:JOY) last announced its quarterly earnings results on Tuesday, March 12th. The company reported C$0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.09 by C($0.04). Journey Energy had a net margin of 8.46% and a return on equity of 5.26%. The company had revenue of C$55.91 million for the quarter. As a group, equities research analysts anticipate that Journey Energy will post 0.3599202 EPS for the current fiscal year.

Journey Energy Company Profile

Journey Energy Inc is involved in the exploration, development, and production of crude oil and natural gas in the province of Alberta, Canada. The company was formerly known as Sword Energy Inc and changed its name to Journey Energy Inc in July 2012. Journey Energy Inc was founded in 2007 and is headquartered in Calgary, Canada.