Surge Energy (TSE:SGY) Announces Quarterly Earnings Results

Surge Energy (TSE:SGY) posted its quarterly earnings data on Wednesday. The company reported C$0.55 EPS for the quarter, FiscalAI reports. The company had revenue of C$111.40 million during the quarter. Surge Energy had a return on equity of 6.04% and a net margin of 7.25%.

Surge Energy Price Performance

Shares of SGY stock opened at C$8.33 on Thursday. The company has a debt-to-equity ratio of 32.59, a current ratio of 0.88 and a quick ratio of 0.40. The company has a market capitalization of C$824.24 million, a PE ratio of 18.51, a price-to-earnings-growth ratio of 0.59 and a beta of 0.16. The firm’s 50-day moving average is C$7.30 and its two-hundred day moving average is C$7.10. Surge Energy has a 12 month low of C$4.37 and a 12 month high of C$8.58.

Analysts Set New Price Targets

Several analysts recently commented on SGY shares. ATB Cormark Capital Markets boosted their price target on Surge Energy from C$8.25 to C$9.75 in a research report on Friday, November 21st. Raymond James Financial cut shares of Surge Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$9.08.

About Surge Energy

Surge Energy Inc is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products such as Oil, Natural gas liquids and Natural gas, of which a majority of the revenue is derived from the sale of oil.